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Thursday, August 01, 2019 1:40:09 PM
CNE.TO finally breaks out of 4 year channel
Fast and furious. The channel was what was keeping canacol down. When it broke after such a long pattern it was going to be quick.
Hoping thus is a multi year hold now. Thing to follow is other gas exploration success in Colombia. If a lot of gas is discovered Canacol’s $5/MCF pricing won’t be sustainable. Canacol has pretty much been the only explorer. deliverd LNG to Colombia west coast won’t be a risk as price will also be high.
Fast and furious. The channel was what was keeping canacol down. When it broke after such a long pattern it was going to be quick.
Hoping thus is a multi year hold now. Thing to follow is other gas exploration success in Colombia. If a lot of gas is discovered Canacol’s $5/MCF pricing won’t be sustainable. Canacol has pretty much been the only explorer. deliverd LNG to Colombia west coast won’t be a risk as price will also be high.
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