Investment Thesis Summary
Founded in 1970, Canacol Energy (OTCQX:CNNEF) is a Canadian company engaged in the exploration and production of oil and gas focused onshore in Colombia and Ecuador. The company has become an industry-leading natural gas supplier to the Caribbean Coast.
Canacol is a key component of regional demand, Caribbean coast gas market, with an estimated ~50% market share. This was expected to increase materially in 2019 and 2020, with management forecasting production to ramp up to ~215 mmscfd by Q1 2020.
Please see our previous article for reference. Overall, Canacol looks