Value Microcaps Junior Energy

[dr_airtime]

CNE.TO - Colombia dropping tax to 32% by 2019

Last post on CNE.TO for a while! I just think this is a great buy opp for another double by H1-2019 on the gas contracts alone and oil price upside is a bonus beyond that. Besides...it is so quiet here....

If you recall from 1.5 years ago my concern was that the implementation of CREE tax in Colombia (25% corporate tax plus 14% CREE on top of that for 2017) was a big negative on Canacol long term. Things have change and new tax reform that reduces the tax rate from 39% in 2017 to 32/33% in 2019 (when Canacol actually hits 40,000 boepd) has made the story brighter.

https://home.kpmg.com/xx/en/home/insights/2016/10/tnf-colombia-proposal-for-major-tax-reform.html

http://colombiareports.com/colombias-congress-approves-tax-reform-bid-raise-billions/