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Canacol Energy Ltd (CNE.TO)

CNE.TO on Toronto Stock Exchange

3.70CAD
22 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Canacol Energy Ltd enters into $265 million senior secured term loan
Thursday, 16 Feb 2017 09:00am EST 

Canacol Energy Ltd : Canacol Energy Ltd enters into US $265 million senior secured term loan to replace existing credit agreement . Canacol Energy - new credit agreement will replace corporation's existing two facilities with BNP Paribas and APOLLO INVESTMENT CORPORATION senior notes . Canacol Energy Ltd - new credit agreement will allow an additional US$ 40 million of greenshoe funds available within 12 months post-funding . Canacol Energy Ltd - proceeds from term loan will be used for repayment of principal in amount of US$ 255 million .Canacol Energy - new credit agreement defers amortization payments till March, 2019.  Full Article

Canacol Energy Ltd enters into US$265 mln senior secured term loan
Thursday, 16 Feb 2017 09:00am EST 

Canacol Energy Ltd - : Canacol Energy Ltd enters into US $265 million senior secured term loan to replace existing credit agreement . Canacol Energy Ltd says term loan will mature on March 20, 2022 . Canacol Energy Ltd - credit agreement will replace corporation's existing two facilities with bnp pariba .Canacol Energy Ltd says proceeds from term loan will be used for repayment of principal in amount of us$ 255 million.  Full Article

Canacol Energy qtrly EPS $0.02
Thursday, 10 Nov 2016 04:01pm EST 

Canacol Energy Ltd : Canacol energy ltd - during q3, canacol achieved realized contractual sales volumes of 18,908 boepd, an 11% increase over previous quarter ended june 30 . Canacol energy ltd - estimates that average net before royalty oil and gas production for 2016 will range between 16,000 and 17,000 boepd . Canacol energy ltd - realized contractual gas sales will average approximately 75 mmscfpd (13,160 boepd) for 2016 . Canacol - anticipates colombian oil production to average about 2,300 bopd and ecuador oil production of approximately 1,300 bopd in calendar 2016 .Canacol energy ltd qtrly earnings per share $0.02.  Full Article

Canacol Energy expands drilling program, reports on July production
Tuesday, 23 Aug 2016 04:05pm EDT 

Canacol Energy Ltd :Canacol Energy Ltd tests Nispero 1 exploration well at 28 MMSCFPD, expands drilling program, and reports on July production.  Full Article

Canacol Energy provides production and operations update
Tuesday, 12 Jul 2016 08:05am EDT 

Canacol Energy Ltd : Provides production and operations update: average cash sales of 19,521 boepd for the months of May and June 2016 . Estimates that average net before royalty oil and gas sales for 2016 will range between 16,000 and 17,000 boepd . Estimates that average net before royalty oil and gas sales for 2016 will range between 16,000 and 17,000 boepd . Corporation plans to spud Nispero 1 exploration well during week of July 18, 2016. . Total realized contractual gas sales and oil sales are anticipated to total between 18,500 and 19,000 boepd from May 1 until year end . Canacol anticipates Colombian oil production to average approximately 2,300 bopd, ecuador oil production of about 1,300 bopd in 2016 . To make no significant investments in drilling of oil production and exploration portfolios until pricing stabilizes . Total corporate ebitdax is anticipated to be approximately $ 135 million for calendar 2016 .Estimates that average net before royalty oil and gas sales for 2016 will range between 16,000 and 17,000 boepd.  Full Article

Canacol Energy Ltd reports Q1 results
Wednesday, 11 May 2016 04:00pm EDT 

Canacol Energy Ltd : Average production volumes increased 21% to 10,933 boepd for three months ended March 31, 2016 . Realized contractual corporate oil and gas sales averaging approximately 20,000 boepd versus 11,220 boepd for previous quarter . AFFO for three months ended march 31, 2016 increased 59% to $13.5 million compared to $8.5 million for three months ended December 31, 2015 . Qtrly adjusted funds from operations per share $0.08 . Estimates that average net before royalty oil and gas production for 2016 will range between 16,000 and 17,000 boepd . Total corporate EBITDAX is anticipated to be approximately $135 million for calendar 2016 . Total petroleum & natural gas revenues for Q1 2016 increased 30% to $22.7 million versus $17.4 million for three months ended dec. 31, 2015 .Canacol energy ltd. increases first quarter sales 20% to 11,220 boepd and corporate netback 9% to $23.90/boe.  Full Article

Canacol Energy Ltd. Appoints Jason Bednar as Chief Financial Officer
Wednesday, 2 Dec 2015 06:38am EST 

Canacol Energy Ltd:Says Jason Bednar has been appointed the permanent Chief Financial Officer of the Corporation effective today.Bednar has been serving in the capacity of interim CFO of the company since June 1, 2015, following a leave of absence of George Gramatke.Jason Bednar is a director of the Corporation and has been the Chairman of its Audit Committee from inception until June 1, 2015.Michael Hibberd will remain as the new Chair of the Audit Committee of the Corporation.  Full Article

Canacol Energy Ltd sees CY 2015 production at high end of prior range
Monday, 10 Aug 2015 06:30am EDT 

Canacol Energy Ltd:Says that it anticipates achieving the higher end of its CY 2015 net before royalty production guidance of between 10,000 to 12,000 boepd.  Full Article

Canacol Energy Ltd announces change to fiscal year end
Wednesday, 15 Jul 2015 06:30am EDT 

Canacol Energy Ltd:Announces change to fiscal year end.Will file a second year end as of December 31, 2015, of all similar required documents by March 31, 2016.Says its previous year ending June 30 will go ahead as originally scheduled.Feel it's time to align year end with that of peer group to allow for "easier comparisons and ultimately a lower cost of capital".Expect to enter 2016 with an additional 65 mmcfpd of gas production (11,400 boepd), effectively a doubling of corporate production.Annual audited consolidated financial statements and audited reserve reports to be released prior to September 28, 2015.  Full Article

Canacol Energy Ltd says administrative court in Bogota annuls DIANs 2013 resolution
Monday, 6 Jul 2015 07:34am EDT 

Canacol Energy Ltd:Says administrative court in Bogota annuls two DIANs 2013 resolutions that fined Canacol Energy Colombia SA (unit of Canacol Energy Ltd) and ordered to close administrative offices between April 26 and April 29, 2013 as a result of involuntary invoicing error of Canacol Energy Colombia SA.  Full Article

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BRIEF-Canacol Energy Ltd enters into $265 million senior secured term loan

* Canacol Energy Ltd enters into US $265 million senior secured term loan to replace existing credit agreement