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<p>2016 was a strong year for Canacol (CNE), generating US$135.5m of EBITDAX (+101%) and a 43% increase in adjusted revenues to US$173m. Management guidance for 2017 implies another step-up in both production and cash generation. Primary targets include: 1) the delivery of an exit rate of 130mmscfd via the construction of a new, privately owned gas pipeline; 2) the drilling of three additional gas exploration wells in order to add behind-pipe resource; and 3) the drilling of two oil exploration wells. Consensus expects US$177m EBITDA in 2017; Canacol continues to trade at a meaningful discount to its disclosed post-tax NPV10 of US$945m 2P (C$5.82/share) based on contracted gas prices &#8211; this excludes the EMV of prospective gas resource recently estimated at US$789m by Gaffney Cline. </p>

2016 was a strong year for Canacol (CNE), generating US$135.5m of EBITDAX (+101%) and a 43% increase in adjusted revenues to US$173m. Management guidance for 2017 implies another step-up in both production and cash generation. Primary targets include: 1) the delivery of an exit rate of 130mmscfd via the construction of a new, privately owned gas pipeline; 2) the drilling of three additional gas exploration wells in order to add behind-pipe resource; and 3) the drilling of two oil exploration wells. Consensus expects US$177m EBITDA in 2017; Canacol continues to trade at a meaningful discount to its disclosed post-tax NPV10 of US$945m 2P (C$5.82/share) based on contracted gas prices &#8211; this excludes the EMV of prospective gas resource recently estimated at US$789m by Gaffney Cline. 

Canada

Canacol Energy Limited is an international junior energy company with production and exploration operations located in South America. The Company's operations are focused in Colombia, with operations also in Ecuador.

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Canacol Energy (CNE CN)

Positioned to sustain growth in 2017

2016 was a strong year for Canacol (CNE), generating US$135.5m of EBITDAX (+101%) and a 43% increase in adjusted revenues to US$173m. Management...

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