Canacol Energy Ltd. (CNE.TO) Buy, Sell or Hold

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Canacol Energy Ltd. (CNE.TO)

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1.53

-0.28 (15.47%)

as of Nov 17, 2025, 9:00:00 pm Market Open.

86 watching

STRONG BUY

Just put out 2 positive press releases. Looking to be at 14,000 barrels a day production by the end of the year. Had some very good drilling results. Great growth prospects ahead. He has just added more to his position. Screaming bargain at this price.

BUY

Just announced reserves are up 60%-70%. Have about $.60 a share in cash. Supposed to cash flow about $.25 next year. Very cheap.

BUY

Large oil resource in Colombia and production has been increasing significantly. Stock price has not tracked the price of oil. Thinks the stock got over own and expectations is priced into the stock. Reasonable entry point at this level.

BUY

A junior oil in Colombia. Has taken a bit of a pounding. Wells are very good. Production has been increasing on the wells they been drilling. Drilled one dry hole in Guyana, which was not a company maker in any event. Will take a little time and people will have to be patient.

COMMENT

He took profits on his common shares but continues to own a convertible debenture. Big prospects with potentially high impact wells. Spending a lot on exploration activity and when it doesn’t pan out, the stock sells off.

HOLD

Pretty good company but will be flat for a while. Had a dry well in Guyana, which disappointed investors. Had a great run and was an easy one for people to sell when they had made a lot of money on it. Good management.

COMMENT

All of the Colombian producers have run into some infrastructure issues. From a fundamental perspective, this one has performed quite well. Was probably pretty fully valued at around $1.40-$1.50. Have executed very well growing their resources and their production. He prefers playing the services side, not necessarily the producers. (Consider Estrella Energy Services (EEN-X) instead.)

DON'T BUY

A bit if fade going on with oil/gas stocks in general. In this case it is more serious. Have 3 absolutely splendid Pacific Rubiales (PRE-T) type heavy oil reserves so should be good later. Only 10% actively involved with a 3rd with Eca Petrol (?), the national petroleum company. In a kind of elephant high-risk well (one trick pony) in Guyana, which seems to be their main activity at the moment. Not a great Guyana fan because of a lack of infrastructure.

BUY

Positive on this company. Small Colombian oil producer. Can get very volatile if someone wants to get off a position. On an 18-24 month view, he thinks the stock could perform very well. You need to be patient.

COMMENT

Finds the management to be a little too promotional than what he likes. Listed on the Colombian stock exchange, which has led to an inflated valuation. Risk NAV is about $1.30 and trading at $1.32 so trading at a premium. Also waiting for a key well out of Guyana. Watch for a 30-60 day flow rate, not a 1 or 2 day.

PARTIAL BUY

Had been going sideways for a very long time and then broke out in 09 into a huge rally. Got to the $1.80 level and the pulled back in, presumably on consolidation. Wait for it break out before you get into it but you could take a small position ti see where it goes. Buy at around $1.85. Exit at $1.30.

BUY

Colombian oil play that has been consolidating quite nicely since the fall. Recently did an equity offering and feels it is poised to go significantly higher. About to start drilling on their Guyana properties.

WATCH

Did very well but has traded sideways over the last several months. Have a number of lots in Colombia and have been coming out with good drill results on the oil side. Production numbers have been ramping up as well. The big upside is that they will be drilling off of Guyana and there could be news in the next couple of months. Good management.

BUY

Columbia. Likes it, it is fairly valued and there is some upside on it.

DON'T BUY

Market cap of about $760 million. He finds the overall valuation a challenge. Fully valued to him.

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Canacol Energy Ltd. (CNE.TO)