CNNEF - Canacol Energy GAAP EPS of C$1.17 revenue of C$74.61M
2023-08-11 01:42:26 ET
- Canacol Energy press release ( OTCQX:CNNEF ): Q2 GAAP EPS of C$1.17.
- Revenue of C$74.61M (+6.2% Y/Y).
- Net cash capital expenditures for the three and six months ended June 30, 2023 was C$52 million and C$99.1 million, respectively.
- As at June 30, 2023, the Corporation had C$38.9 million in cash and cash equivalents and C$8.7 million in working capital surplus.
- Outlook: For the remainder of 2023, the Corporation is focused on the following objectives: 1) the drilling of up to 10 exploration and appraisal wells in a continuous program targeting a 2P reserves replacement ratio of more than 200%; 2) the acquisition of 282 square kilometers of 3D seismic on the VIM-5 block to expand the Corporation’s exploration prospect inventory; 3) progressing the new gas pipeline project from Jobo to Medellin which will add 100 MMcfpd of new gas sales to the interior, allowing Canacol to increase gas sales to over 300 MMcfpd; 4) continuing to return capital to shareholders; and 5) continuing with our commitment of strengthening our environmental, social and governance strategy.
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Canacol Energy GAAP EPS of C$1.17, revenue of C$74.61M