Canacol Energy Ltd. - CNE-T

Company Website 

Company Highlights: 

  • Canacol is a natural gas company operating in Colombia.
  • In Q2/22 production rose 11% to 34,002 boe/d up from 30,633 in Q2/21. Funds flow was US$39M up 16% from US$34M in Q2/21. On a per share basis this was US$0.23 per share versus US$0.19 per share.
  • CNE has an exciting exploration program this year to increase reserves materially if successful.
  • The company is working on a pipeline project to the south of the country to add new customers for its gas and material volume growth. Timeline is later 2024 or early 2025.
  • Canacol has 171M shares outstanding and a market capitalization of over $340M. Insiders are material shareholders.
  • Canacol pays a dividend of $0.052 per quarter or $0.208 annually providing a current yield of over 10%.
  • We see CNE generating US$0.84 in cash flow in 2022. Our Bull Market Peak Target for CNE is $14.00 per share.
Jamie Somerville
Jamie Somerville
Director, Corporate Development
Canacol Energy Ltd.
Jamie Somerville is Director, Corporate Development for Canacol Energy Ltd. He specializes in investor relations, valuation, corporate and strategy planning for oil and gas companies, and is a former Director of the Canadian Global Energy Forum. Prior to working for Canacol , he was a co-founder and CEO of Hoot Research Inc., a financial research, technology and consulting company focused on providing data and insights related to regulatory filings by Canadian-listed oil and gas companies. Prior to that he was Executive VP of a public junior mining and oil and gas company with assets in Peru and Argentina. From 2006 to 2015, Jamie worked as a sell-side equities analyst covering Canadian-listed oil and gas companies with international operations. He worked for TD Securities, Genuity Capital Markets (now CanaccordGenuity), and MGI Securities, before which he worked for Wood Mackenzie, a global energy research and consulting firm based in the UK. Jamie is a graduate of the University of Strathclyde in Glasgow with a MEng (with distinction) in Mechanical Engineering with Financial Management. He is fluent in French and German in addition to English, having lived and worked in both Switzerland and France in his youth. He also speaks basic Spanish.