Canacol Energy Ltd (Alberta) T.CNE

Just look at the 20 or 10 yeaar charts

[mjh9413]

I bought on the premuse that the Columbian gas play would lead to increased financial performance and share price pariculalry with the planned Medellin pipeline but even before that. So they keep finding gas  but cannot grow sales.
If they hadn't drawn down part of that McQuarie Term Loan they would have had only $20MM cash last qtr end .(and they are payng  2.45% (iis that plus SOFR) on Mcaq's unused portion. What gets me is they keep touting EBITDAX growth but that is made up of large amounts (over $40MM Sept end) for interest expense and taxes, which are both real cash payments, so more like $40MM EBDA, a much better measure of financial performance
No payments are made against debt.
And I'll ask again, what are they doing with this new loan draw...general corporate purposes covers a lot of sins, and we won't have any idea until well into next year.
Just look at the charts on SH. They tell you all you need to know about the Gamba factor..I am STILL hoping for Exec and BoD changes, or this one gets taken out, and they can leave with all their golden parachutes

[gassygeezer]

I agree, dig deeper..IMHO Romance vs Reality doesn't pay your bills, just theirs