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Canacol Energy: Successful Shale Oil Test Underscores Compelling Value Proposition
- Canacol has tested up to 590 bopd from the high-impact MA-1 La Luna shale-oil well where the company is partnered with ExxonMobil.
- Importantly, the quoted flow rates are under natural flow conditions without pump assistance. The MA-1 was a vertical well and was not fracture stimulated.
- The company has 545,000 net acres of exposure to the play; Shell and Conoco are partners on two of Canacol's adjacent blocks.
- Canacol is trading at ~60% of my extrapolated NAV, adjusted for new discoveries, and provides leverage to material upside optionality even assuming zero oil-shale value. The risk-reward appears excellent.
Canacol Energy: Significantly Undervalued, With Solid Production And Reserve Growth Set To Continue Coupled With A Range Of Compelling Catalysts
- Massive potential production and reserves growth.
- High exploration and development drilling success rate coupled with an established presence in known productive oil basins bodes well for further oil discoveries.
- Canacol has taken the lead in unconventional oil and gas exploration in the next hot spot for unconventional oil and gas in Latam - Colombia.
- Overblown market perception of country risk in Colombia sees Canacol trading at a significant discount to its NAV.
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Dec. 2, 2013, 10:11 AM
- Canacol Energy (CAAEF +9.7%) says its Leono 1 exploration well drilled in the Llanos Basin of Colombia encountered 133 feet of net oil pay within four different reservoirs, and is preparing to conduct a series of production tests on the discovery.
- CEO Charle Gamba says Leono is the second wildcat discovery on the Llanos Basin LLA23 block after 2012’s Labrador find, adding that “the thickness of the net oil pay section at Leono 1 is approximately twice that of Labrador.”
Jul. 18, 2013, 2:23 PMCanacol Energy (CAAEF.PK +3.1%) rises for a second straight session on more than triple the average 10-day volume. In an article published Wednesday and out of embargo today, SA Pro contributor Caiman Valores called the stock "a deep value investment [trading] at a significant discount to net-asset-value … offering investors potential upside of 60%." | Comment!
Feb. 27, 2013, 1:12 PM
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