Canacol Investors Fear Worst as Gas Producer's Cash Woes Spark Major Selloff [BNN Bloomberg (Canada)]
Gran Tierra Energy Inc. (GTE)
NASDAQ:AMEX Investor Relations:
grantierra.com/investor-relations.html
Company Research
Source: BNN Bloomberg
Notes maturing in 2028 tumbled as much as 20 cents on the dollar in just three days to fresh lows of about 46 cents after the company reported that it had only $39.4 million left in cash or equivalents. That's down by about 30% from the year earlier — and only marginally above the amount it needs to meet coupon payments due in May and November. It was the final straw for some investors. While the notes have been declining since October, when the firm canceled a key contract for a pipeline in the city of Medellin, the recent selloff has doubled the six-month decline. Pledges from management of the Calgary, Canada-based company to consider asset sales and set up a new credit facility failed to ease concerns. “People are not happy with the sudden U-turn with the pipeline last year, while some shortfalls and output and operational hiccups are not helping sentiment,” said Eduardo Ordonez, portfolio manager at BI Asset Management in Copenhagen. Canacol reported a drop in output and s
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GTE
News
- Gran Tierra Energy Announces Final Voting Results of its Annual Meeting of Stockholders [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Gran Tierra Energy Announces Final Voting Results of its Annual Meeting of StockholdersGlobeNewswire
- Gran Tierra Energy Inc. (AMEX:GTE) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Gran Tierra Energy Inc. Announces First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Gran Tierra Energy Inc. Announces First Quarter 2024 Results [Financial Post (Toronto, Ontario, Canada)]Financial Post
GTE
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- 5/3/24 - Form 4
- GTE's page on the SEC website