Canacol Energy Ltd. | StockChase
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Canacol Energy Ltd. (CNE-T)

Last Price Recorded: $4.2200 on 2017-11-21

ON STOCKCHASE SINCE Sep 2009

oil/gas

Canacol Energy Ltd.


Signal Opinion Expert

2017-03-23

DON'T BUY
Canacol Energy Ltd. (CNE-T)

He does not want international oil and gas.  There are way better opportunities in US and Canada.  Elsewhere there is the risk of pipeline bombings.

oil/gas
Eric Nuttall

Portfolio Manager, Sprott Assett Management

Price: $3.780
Owned: Unknown

2016-09-29

COMMENT
Canacol Energy Ltd. (CNE-T)

He used to own it.  He moved to another.  They got into trouble with oil prices, but have not gotten out of it.  It is smaller cap.  Reducing tax rates in Colombia would be beneficial to them.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $4.310
Owned: No

2016-09-16

HOLD
Canacol Energy Ltd. (CNE-T)

(Market Call Minute.) An interesting story. Onshore Colombian gas. They are trying to do an exploration to prove up enough resources to build a pipeline to grow further.

oil/gas
Swanzy Quarshie

Portfolio Manager, Sentry Investments

Price: $4.070
Owned: Unknown

2016-07-21

COMMENT
Canacol Energy Ltd. (CNE-T)

(Market Call Minute.) A Colombian gas story. They have all of their gas contracted at $5.60, and it seems to be pretty low risk drilling. This is one to look at.

oil/gas
Mason Granger

Portfolio Manager, Sentry Investments

Price: $4.200
Owned: Unknown

2016-05-12

COMMENT
Canacol Energy Ltd. (CNE-T)

Columbian player.  He bought in ‘08/’09.  It has come down and now he does not own it.  Mostly gas in Columbia and they have fixed pricing for it.  Their production will ramp up quite a bit in the next year or two.  The management team has been put into the penalty box for missing over the last few years.  He likes Columbian oil players.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $3.930
Owned: No

2015-02-23

PAST TOP PICK
Canacol Energy Ltd. (CNE-T)

(Top Pick Dec 19/13, Down 57.32%) They were doing well and then energy came off.  They made some big discoveries in the Nat Gas area.  He is disappointed in a lot of the Columbian plays right now.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $2.750
Owned: Yes

2014-11-26

PAST TOP PICK
Canacol Energy Ltd. (CNE-T)

(A Top Pick Oct 24/13. Down 32.81%.) Still likes the story. A Colombian producer. There are high expectations in terms of exploration, and thinks there is still a lot of that coming. It is going to be difficult with oil prices down at this level. Thinks it has been oversold.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $3.270
Owned: Yes

2014-07-30

PAST TOP PICK
Canacol Energy Ltd. (CNE-T)

(Top Pick July 11/13, Up 116.26%) Started buying when he moved to AGF.  They did a big financing and people participated.  He really likes the story,  A lot of news coming out over the next 4-5 weeks.  A lot of catalysts in the next 6 months.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $7.190
Owned: Yes

2014-05-21

COMMENT
Canacol Energy Ltd. (CNE-T)

Recently bought this off a recent financing and is a little disappointed in how the stock has performed post that. This is primarily in Colombia. Prefers Gran Tierra (GTE-T) and Parex (PXT-T) over this if you want exposure to South America.

oil/gas
Robert Lauzon

Deputy Chief Investment Officer, Middlefield Capital Corporation

Price: $7.240
Owned: Yes

2014-05-07

COMMENT
Canacol Energy Ltd. (CNE-T)

Has been a Top Pick in his last 3 appearances at $2, $4 and $5 and has done extremely well. Came out with some excellent exploration results that were 2900 BOEs with about 2300 net to them. Continuing to cash flow very well and their net backs are increasing. Just raised $125 million. Really likes the story and thinks you will hear a lot of good news. There are some big targets out there for over the next 6 months.

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $7.680
Owned: Yes

2014-04-08

TOP PICK
Canacol Energy Ltd. (CNE-T)

Primarily in Colombia. Extremely prospective. Oil and gas. Cash flow growth of 40%+ year-over-year. Thinks the production guidance is conservative and will be re-rated. Extremely strong balance sheet that allows them to execute their business plan. Have big partners that will help them finance growth going forward. It will be volatile, but for somebody who is patient and likes growth, this is one you definitely want to own.

oil/gas
Brian Huen

Managing Partner, Red Sky Capital Management

Price: $6.950
Owned: Yes

2014-02-21

SELL
Canacol Energy Ltd. (CNE-T)

It is probably a little ahead of itself. There are other juniors that have performed in this fashion.  He is still nervous on the juniors.  He focuses on good dividend payers.  Take your profit and put it in something a little safer.

oil/gas
David Cockfield

Managing Director, Northland Wealth Management

Price: $7.000
Owned: Unknown

2013-12-19

TOP PICK
Canacol Energy Ltd. (CNE-T)

Thinks we could see more results before Christmas.  There is still a lot of upside here.  There are a lot of catalysts here.  They are working with some of the majors.  Net backs have been increasing dramatically. 

oil/gas
Peter Imhof

Vice President & Portfolio Manager, AGF Investments Inc

Price: $6.560
Owned: Yes

2013-12-06

COMMENT
Canacol Energy Ltd. (CNE-T)

Sold her holdings in order to take a profit. They will likely be coming out with some pretty great reserve news in the next few weeks, which may help the stock further. Good management. Assets are definitely improving from where they were a few years ago. Mostly focused in Colombia.

oil/gas
Joanne A. Hruska, CFA

Vice President, Portfolio Management, Aston Hill Financial

Price: $6.020
Owned: No

2013-12-06

HOLD
Canacol Energy Ltd. (CNE-T)

Very interesting little oil/gas company operating in Colombia. Stock had a good run in the last little while. Drilled an exploration well that has some really good shows. Haven’t tested it yet, but the logs show a lot of pay in the well. Also, have a new potential shale play in Colombia. His only concern is the management, which has overpromised and under delivered.

oil/gas
Alex Ruus

Portfolio Manager, Arrow Capital Management

Price: $6.020
Owned: Unknown

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1 Comment

Kermskorner

March 6th 2014 at 5:20pm

Canacol Energy Ltd. Tests 590 BOPD From Fractured La Luna Formation Discovery at Mono Arana, Colombia


CALGARY, ALBERTA--(Marketwired - Mar 6, 2014) - Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE)(OTCQX:CNNEF)(BVC:CNEC) is pleased to provide an update of the testing operations from the La Luna Formation in the Mono Arana 1 exploration well pursuant to the VMM2 Exploration and Production ("E&P") Contract covering the Middle Magdalena Basin of Colombia. Canacol has a 20% non-operated working interest in this Contract, with ExxonMobil Exploration Colombia having a 70.1% working interest and Vetra Exploración y Producción Colombia having the remaining 9.9%.

As reported on January 24, 2013, the Mono Arana 1 exploration well encountered 230 feet ("ft") of net oil pay within the naturally fractured Cretaceous La Luna Formation. The Corporation has a 20% working interest in this part of the VMM2 contract for the La Luna. Two flow periods have been completed in the La Luna naturally fractured reservoir within the well, with the final flow period yielding a gross rate of approximately 590 barrels of oil per day ("bopd") of 22° API oil during the last hour of the 24 hour flow period.

Charle Gamba, President and CEO of the Corporation, commented "We are very pleased with the flow test results from the La Luna naturally fractured reservoir at the vertical Mono Arana 1 well. The flow test results from the La Luna in the Mono Arana 1 well demonstrate that the reservoir where it is naturally fractured is capable of good natural flow rates."

Mono Arana 1 Flow Test Results

The Mono Arana 1 well was spud on September 23, 2012, and was designed to test the oil potential of both the shallow Tertiary Lisama sandstone reservoir and deeper shale and carbonate reservoirs within the La Luna, Simiti, and Tablazo Formations. The well was drilled to a depth of 9,942 feet measured depth ("ft md"). Approximately 760 ft of La Luna Formation was encountered within the well, with good oil and gas shows encountered across the gross drilled interval. The La Luna Formation also exhibited high overpressure of up to 8146 psia. Based on Canacol's petrophysical analysis of the openhole logs run across the interval the part of the La Luna Formation penetrated in the well contains approximately 230 ft of net oil pay with an average porosity of 14% within naturally fractured shale and carbonate reservoirs.

Two flow periods were performed under natural flow conditions; the first consisted of a 48 hour ("hr") flow period, and the second a flow period of 24 hrs following an acidization procedure of the well. The first flow period yielded a gross production of approximately 130 bopd of 21° API oil and 16 thousand standard cubic feet per day ("mscfpd") with a 0.4% water cut on a 16/64 inch choke and a final bottom hole flowing pressure of 3,707 pounds per square inch ("psi") under natural flow conditions during the last hour of the 48 hr test.

The second flow period was conducted after performing an acidization procedure and the gross production increased to approximately 590 bopd of 22° API oil and 118 mscfpd and 0.4% water cut on a 24/64 inch choke with a final bottom hole flowing pressure of 4,081 psi achieved under natural flow conditions during the last hour of the 24 hour test.

The Corporation plans to commence a long term production test of the La Luna, subject to receipt of approval from the ANH.

Canacol's Acreage Position within the Magdalena Valley of Colombia

The Corporation holds interests in approximately 545,000 net acres within this play mainly in the Magdalena Valley of Colombia, the second largest position held by any operator after the State oil company.


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