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Canacol Energy Ltd (CNE.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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3.5300+0.2000 (+6.01%)
At close: 4:00PM EDT
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Previous Close3.3300
Open3.4600
Bid3.5200 x 0
Ask3.5700 x 0
Day's Range3.3700 - 3.6300
52 Week Range2.6900 - 4.9900
Volume404,809
Avg. Volume223,603
Market Cap638.948M
Beta (5Y Monthly)0.52
PE Ratio (TTM)39.22
EPS (TTM)0.0900
Earnings DateAug. 14, 2020
Forward Dividend & Yield0.21 (6.08%)
Ex-Dividend DateSep. 29, 2020
1y Target Est4.64
  • GlobeNewswire

    Canacol Energy Ltd. Announces Dividend and Provides Corporate Update

    CALGARY, Alberta, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE) (OTCQX:CNNEF) (BVC:CNEC) is pleased to announce the details of its quarterly dividend as well as to provide a brief corporate update. Quarterly DividendThe Corporation has declared a dividend of CAD$.052 per share, payable on October 15, 2020, to shareholders of record at the close of business on September 30, 2020.  The ex-dividend date for all shareholders is September 29, 2020. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes.  The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors.Dividends on shares traded on the Toronto Stock Exchange (“TSX”) will be paid in Canadian Dollars (“CAD”) on October 15, 2020.For shareholders trading on the Colombia Stock Exchange (“BVC”), the Colombian peso equivalency shall be calculated based on the exchange rate as certified by the Banco de la Republica (“Central Bank”) on the date of monetization and will be published accordingly on the SIMEV website www.superfinanciera.gov.co.Shares traded on the Toronto Stock ExchangeForm NR301 will be mailed to Registered non-resident shareholders as at the dividend record date, by Olympia Trust Company, Canacol’s transfer agent. In order to receive the preferred treaty rate, you must complete and mail back the form as soon as possible.  Failure to supply a completed NR301 form will result in Olympia withholding the statutory 25% withholding tax rate on any payments to Registered non-resident shareholders. If you have previously completed Form NR301, you do not need to complete a new form.Instructions on how to correctly complete the NR301 are on the back of the form.  Shareholders who hold their shares through a broker should contact their broker directly. They do not need to return a form to Olympia.Shares traded on the Colombia Stock ExchangeDividend payments will be subject to withholding at the Canadian statutory rate of 25%.  Shareholders who are entitled to a reduced withholding tax rate under a tax treaty should contact their broker or nominee to submit Form NR301 (English version). Brokers should submit Form NR301 on behalf of their shareholders to Deposito Centralizado de Valores (“Deceval”) as soon as possible. If you have previously completed Form NR301, you do not need to complete a new form.Form NR301 can be downloaded at: https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/nr301/nr301-13e.pdfFor information purposes, a Spanish version of Form NR301 can be downloaded at: www.canacolenergy.co/esp/dividend.aspThe content contained herein is not tax advice. Do not use or otherwise rely upon any of the content without first seeking independent tax advice.Uninterrupted Access to Transportation Capacity in ColombiaThe Corporation wishes to provide the following clarification concerning the availability of transportation capacity from its operated fields to Cartagena and Barranquilla.  The Corporation is currently delivering gas to its clients without any interruption or issue with respect to transportation.  As such the Corporation reconfirms its 2020 sales guidance of between 170 and 197 million standard cubic feet per day. Under Colombian regulations, transportation services are considered a public utility and as a result are heavily regulated. In particular the regulation (Resolution No. 071 of 1999 – Gas and Energy Regulatory Commission) prohibits transport companies from denying access to the national transport system to any agent or producer wishing to make use of the same, as long as the capacity is available and not being used by another agent or producer.Update on Medellin PipelineWith respect to the Corporation’s plans to build and operate a new gas pipeline from Jobo to Medellin, the Corporation continues its advanced negotiations with multiple international pipeline construction and operation companies, one or several of whom will build the pipeline.  The Corporation is also in the final stages of completing the financial structuring of the project with its banking and equity partners.  The pipeline has a targeted completion date of 2024.Canacol Energy is a gas exploration and production company with operations focused in Colombia.  The Corporation's common stock trades on the Toronto Stock Exchange, the OTCQX in the United States of America, and the Colombia Stock Exchange under ticker symbol CNE, CNNEF, and CNE.C, respectively.This press release contains certain forward-looking statements within the meaning of applicable securities law.  Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to estimated production rates from the Corporation's properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  The Corporation cannot assure that actual results will be consistent with these forward-looking statements.  They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law.  Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry.  Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation.Realized contractual gas sales is defined as gas produced and sold plus gas revenues received from nominated take or pay contracts. CONTACT: Contact Investor Relations: IR@canacolenergy.com Ph: +57 (1) 621 1747 Ph: +(1) 403-561-1648 Website: canacolenergy.com

  • GlobeNewswire

    Canacol Energy Ltd. Provides Gas Sales and Drilling Update

    CALGARY, Alberta, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Canacol Energy Ltd. ("Canacol" or the "Corporation") (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to provide the following gas sales and drilling update. Gas SalesRealized contractual natural gas sales for the months of July and August 2020 averaged approximately 162 million standard cubic feet per day (“MMscfpd”). In addition to the realized contractual gas sales (which are essentially gas produced, delivered, and paid for) the Corporation saw an additional 8 MMscfpd of gas sales nominations throughout July and August, which must be paid for during the remainder of 2020 for which delivery timing is at the discretion of the off taker.Porro Norte 1 Exploration well VIM-5 E&P Contract CNE Oil & Gas S.A.S , 100% Operated Working Interest   Using the Pioneer 302 drilling rig, the Porro Norte 1 exploration well was spud on July 20th, 2020 and reached 11,810 feet measured depth on August 17th, 2020.  Significant over-pressure up to 13.7 ppg was accompanied by strong gas shows encountered over an 80 feet true vertical depth (“ft TVD”) interval while drilling the primary reservoir objective in the Cicuco limestones of the Cienaga de Oro Formation.  Based on wireline logs, the well encountered 24 ft TVD of potential gas pay within the Cicuco limestone, a new play type on the VIM5 block.  The well was suspended and will be tested with a workover rig at a later date.Remaining 2020 Drilling ProgramCanacol maintains 2 drilling rigs under contract, Pioneer 53, and Pioneer 302, and plans to drill 4 additional wells during the remainder of 2020.  The Pioneer 302 rig is currently mobilizing to drill the Fresa- 1 exploration, located close to the Corporations Jobo facility.  Fresa 1 is anticipated to spud in late September 2020.  Upon completion and testing of the Fresa 1 exploration well, the Rig 302 will be mobilized to drill the Flauta 1 exploration well, which is anticipated to spud in mid-November 2020.Rig 53 will move to Pandereta 4 appraisal well after completing the Pandereta 8 development well.  Operations at Pandereta 8 have been delayed by an outbreak of Covid in the area.  After drilling and completing the Pandereta 4 appraisal well, RIG 53 will be mobilized to drill the Siku-1 exploration well, which is expected to spud in mid-December 2020.Canacol Energy is a gas exploration and production company with operations focused in Colombia.  The Corporation's common stock trades on the Toronto Stock Exchange, the OTCQX in the United States of America, and the Colombia Stock Exchange under ticker symbol CNE, CNNEF, and CNE.C, respectively.This press release contains certain forward-looking statements within the meaning of applicable securities law.  Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to estimated production rates from the Corporation's properties and intended work programs and associated timelines. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  The Corporation cannot assure that actual results will be consistent with these forward-looking statements.  They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law.  Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry.  Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation.Realized contractual gas sales is defined as gas produced and sold plus gas revenues received from nominated take or pay contracts. CONTACT: Contact Investor Relations: IR@canacolenergy.com Ph: +57 (1) 621 1747 Ph: +(1) 403-561-1648 Website: canacolenergy.com

  • Canacol Energy (TSE:CNE) Shareholders Have Enjoyed A 45% Share Price Gain
    Simply Wall St.

    Canacol Energy (TSE:CNE) Shareholders Have Enjoyed A 45% Share Price Gain

    Stock pickers are generally looking for stocks that will outperform the broader market. And the truth is, you can make...