Canacol Energy Ltd (Alberta) T.CNE

Alternate Symbol(s): CNNEF

Energy Oil & Gas E&P

Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.

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Canacol Energy Ltd (Alberta)

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Post by philippechampyon Feb 15, 2024 9:06am

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Post# 35881521

bad news and good news

Bad news :

- Gamba is still at the helm. We cannot trust him, because during the last five months, he constantly hid the truth.

- The big problem is water in some wells. So, less prod and less reserves

- The divy will be slashed IMO, because their priority is to buyback bonds which trade at a 35% discount

Good news :

- COP is higher than it was one year ago. So, a large paper profit

- Nat gas price will be 1 $ higher in 2024, and still higher in 2025, because other reserves are depleting

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