It was only a few years ago when Colombia emerged as one of the hottest oil plays in South America and it saw a number of Canadian oil explorers and producers enter the country. On the back of new discoveries companies such as Pacific Rubiales (PEGFF.PK), Petrominerales (PMGLF.PK) and Gran Tierra Energy (GTE) saw their share prices surge. It also saw a number of micro-cap companies like Canacol (CAAED.PK) and C&C Energia (CZE.TO) enter the fray.
Yet over the last year, many of these Canadian-domiciled independent oil and gas explorers and producers have fallen into disfavor with investors and seen their share prices fall significantly. This sharp...