| View previous topic :: View next topic |
| Author |
Message |
Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
|
 Posted: Mon Sep 21, 2015 11:52 am Post subject: CNE.to +.11 to C$3.05 |
 |
|
|
| Canacol has posted a nice rebound in the last month. Hit recent low of C$2.01 on 8/24/15. Today it's up 50% from that level. I think it's due to positive news on development drilling at their Clarinette field but it could also be positive sentiment that the company will meet their 12/15 deadline to dramatically ramp up ngas production to 83mmcfpd from 20mmcfpd in early 2015. |
|
| Back to top |
|
 |
Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
|
|
| Back to top |
|
|
Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
|
| Posted: Fri Apr 24, 2015 4:17 pm Post subject: CNE.to/CNNEF -.05 to C$3.63 |
|
|
|
http://finance.yahoo.com/news/.....25454.html
This is an important milestone for Canacol. This agreement will allow them to spend capital on building a pipeline to the coast to allow export of natural gas. Also deal was done on good terms and principal repayment was delayed, allowing them to spend money drilling their ngas opportunities. |
|
| Back to top |
|
|
Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
|
| Posted: Wed Apr 15, 2015 10:44 am Post subject: CNE.to +.29 to C$3.66 |
|
|
|
Canacol up nicely since I bought. I think the recent action is due to the refinancing of $200million dollar debt. Canacol announced that refinance was supposed to close around now. This may be speculators hoping it's true or insiders who know it's done.
Refinance on good terms would be a wake up call to investors that Canacol is different than most producers. They have good pricing on natural gas production and this financing will allow them to build a pipeline to coastal refinery that can export the gas at good prices.
Refi was also supposed to delay principal repayment until 2017, which would allow heavy spending on ngas development. |
|
| Back to top |
|
|
Bobwins
Joined: 05 Feb 2007
Posts: 1227
Location: Seattle, Wa
|
| Posted: Mon Mar 02, 2015 4:19 pm Post subject: CNE.to/CNNEF +.04 to C$2.82 |
|
|
|
bought a few Canacol today at 2.78. Canacol operates in Colombia. They recently hit a huge gas well, testing around 8,000boepd total from two different zones. They have take or pay contracts to supply 83mmcfpd to local utilities at favorable prices that will yield ~$30 netbacks. They have 3D seismic over the discovery area and seem confident they can produce up to the 83mmcfpd by 12/15, which should generate annualized cashflow above $120million.
Company says they have 40+% of their production sold at independent prices to the current low price of oil.
Here is the latest presentation:
http://www.canacolenergy.com/i.....202015.pdf |
|
| Back to top |
|
|
|
Read Me
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
