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Canacol Energy Ltd (CNE.TO)

CNE.TO on Toronto Stock Exchange

4.57CAD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

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

Canacol Energy Ltd announces new 35 MMSCFPD 15 year take or pay gas sales contract
Thursday, 5 Feb 2015 05:42pm EST 

Canacol Energy Ltd:Subsidiary CNE Oil & Gas S.A.S., executed a new 15 year take or pay contract for the sale of 35 million standard cubic feet per day of gas to Altenesol LNG Colombia S.A.S. commencing in the fourth quarter of calendar 2016.Pursuant to an existing agreement, as previously announced, an industry partner has a right to a 25 percent interest in the VIM 5 E&P contract, subject to regulatory approval and meeting certain financial commitments.Under the terms of such agreement, however, the Corporation retains operatorship and a right to commercialize 100 percent of the gas produced from contract on behalf of the partners.  Full Article

Canacol Energy Ltd announces acquisition of VIM 5 and VIM 19 E&P contracts
Thursday, 18 Dec 2014 07:38pm EST 

Canacol Energy Ltd:Says that CNE Oil and Gas S.A., a subsidiary of the corporation, has acquired 100 pct. interest in the VIM 5 and VIM 19 Exploration and Production contracts from OGX Petroleo E Gas S.A.The National Agency of Hydrocarbons of Colombia ("ANH") has formally approved the transfer of title and operatorship of the E&P contracts to CNE Oil & Gas S.A.Both contracts are located adjacent to the Corporation's 100 pct. operated Esperanza and VIM 21 gas contracts in the Lower Magdalena Basin of Colombia.The ten prospects and leads identified within the VIM 5 and 19 contracts contain a significant volume of prospective resource (note tabulated volumes by prospect below) assuming all prospects are drilled according to a July 2014 NI-51-101 compliant report from Gaffney Cline and Associates.  Full Article

BRIEF-Canacol Energy negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018

* Canacol Energy Ltd. negotiates new gas sales contracts, initiates private gas pipeline, and forecasts 130 mmscfpd of gas production exiting 2017 and 230 mmscfpd of gas production exiting 2018