Last C$1.96 CAD
Change Today +0.305 / 18.48%
Volume 4.8M
CNE On Other Exchanges
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As of 3:58 PM 12/17/14 All times are local (Market data is delayed by at least 15 minutes).

canacol energy ltd (CNE) Snapshot

Open
C$1.72
Previous Close
C$1.65
Day High
C$2.18
Day Low
C$1.68
52 Week High
05/2/14 - C$8.77
52 Week Low
12/16/14 - C$1.40
Market Cap
210.8M
Average Volume 10 Days
2.6M
EPS TTM
C$0.27
Shares Outstanding
107.8M
EX-Date
--
P/E TM
6.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for CANACOL ENERGY LTD (CNE)

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canacol energy ltd (CNE) Details

Canacol Energy Ltd., an oil and gas company, primarily engages in the exploration, development, and production of petroleum and natural gas in Colombia, Ecuador, Brazil, and Peru. Its areas of oil and gas exploration include 5 various basins in Colombia and Ecuador across 23 E&P contracts representing 1.8 million net acres. The company was incorporated in 1970 and is headquartered in Calgary, Canada.

249 Employees
Last Reported Date: 09/23/14
Founded in 1970

canacol energy ltd (CNE) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$427.7K
Chief Financial Officer
Total Annual Compensation: C$299.8K
Vice President of Business Development, Gener...
Total Annual Compensation: C$309.9K
Executive Vice President of Business Developm...
Total Annual Compensation: C$309.9K
Vice President of Exploration
Total Annual Compensation: C$288.8K
Compensation as of Fiscal Year 2014.

canacol energy ltd (CNE) Key Developments

Canacol Energy Ltd Presents at 49 North Resource Conference, Nov-17-2014 01:00 PM

Canacol Energy Ltd Presents at 49 North Resource Conference, Nov-17-2014 01:00 PM. Venue: The Olympic Club, 524 Post St., San Francisco, CA 94102, United States.

Canacol Energy Ltd. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended September 30, 2014; Provides Production Guidance for the Calendar Year 2014

Canacol Energy Ltd. reported unaudited consolidated earnings and production results for the first quarter ended September 30, 2014. For the quarter, the company reported petroleum and natural gas revenues, net of royalties were $58,917,000 against $48,222,000 a year ago. Cash provided by operating activities was $45,618,000 or $0.42 per basic and diluted share against $19,724,000 or $0.23 per basic and diluted share a year ago. Adjusted funds from operations were $36,784,000 or $0.34 per basic and diluted share against $24,278,000 or $0.28 per basic and diluted share a year ago. Net income was $14,110,000 or $0.13 per basic and diluted share against $2,981,000or $0.03 per basic and diluted share a year ago. Capital expenditures, net were $47,522,000 against $17,408,000 a year ago. For the quarter, the company’s petroleum production, before royalties were 9,922 barrels of oil equivalent per day (boepd) compared to 6,110 barrels of oil equivalent per day for the comparable period. Natural gas production, before royalties were 3,334 barrels of oil equivalent per day (boepd) compared to 3,022 barrels of oil equivalent per day for the comparable period. The company revised its calendar 2014 production guidance downward slightly to 12,500 boepd to 13,000 boepd.

Canacol Energy Ltd. Establishes Financing Relationship with Apollo Investment Corporation to Finance its Investment in Oil and Gas Properties in Colombia and Latin America

Canacol Energy Ltd. announced that it has established a financing relationship with Apollo Investment Corporation to finance its investment in oil and gas properties in Colombia and Latin America. As a result, the company has entered into a USD 100 million unsecured floating rate senior note indenture agreement (the Senior Notes), with USD 50 million drawn and funded, and a further USD 50 million committed and available to be drawn at any time within eighteen months at the sole discretion of Canacol, subject only to customary closing conditions. The Senior Notes are repayable in full on their maturity date of December 31, 2019 and carry interest at LIBOR plus 8.5% per annum (subject to a LIBOR floor of 1.0%), payable quarterly. For the immediate term the blended interest cost of the existing senior secured term loan combined with the Apollo Senior Notes is expected to average approximately 6% per annum from now through the end of fiscal 2015, which is consistent with or below interest rates for alternate debt instruments for the level of debt outstanding. Additionally, the company’s current debt structure carries the advantages of strong bi-lateral relationships with supportive financial partners, including both the senior secured term loan syndicate banks and Apollo Investment, as well as lower structuring and other costs. The Senior Notes may be repaid at any time prior to maturity and are subject to customary financial, performance and legal covenants. Standby fees on the undrawn portion of the Senior Notes are calculated at 1% per annum. There are several reasons for entering into the relationship with Apollo Investment. First, Canacol's ongoing strategy includes the development of recent gas and light oil discoveries, along with various business development initiatives that require flexible funding structures, including potential new joint ventures. With the support of Apollo Investment, Canacol is better positioned to pursue and execute on such projects through flexible customized structures that benefit the company and its shareholders. Second, the company’s current senior secured term loan began amortizing by approximately USD 14.7 million quarterly in October 2014 and is currently scheduled to do so through its maturity in 2018. With the proceeds from the Apollo Investment Senior Notes, Canacol has obtained additional funds for current development expenditures, ensuring that the company maintains a strong and liquid balance sheet. The lenders in Canacol's senior secured term loan have approved the Apollo Investment Senior Notes and are supportive of the company’s growth program. The company expects to maintain this positive dialogue with its senior lending syndicate regarding its future growth needs, including additional funding. In the meantime, the Apollo Investment Senior Notes provide additional liquidity through 2015, while the Senior Notes themselves may also be amended from time to time, or repaid with minimal restrictions. The company continues to maintain a strong and liquid balance sheet and remains in compliance with the terms of its debt facilities.

 

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