The Dow Jones stock exchange yesterday reported that Colombian stocks fell, led by energy firm Canacol Energy Ltd. (CAAEF, CNE.V), whose shares plunged after the company said it was closing an exploration well in Guyana. (See other story on page 3.)
The IGBC index, considered the benchmark for Colombian stocks, posted a 0.74% decline to close at 14236.78 points, Dow Jones said. Calgary-basedCanacol’s shares plunged 18% to close at COP2,055 after the company announced it would close its K-2 well after unsuccessful drilling results.
The report quoted CEO Charle Gamba as saying he wasn’t worried by the drop in the share price and said the company isn’t dwelling on the decision to close the well in Guyana.
“It’s bad news on the exploration front, but we have other exploration projects and we are concentrating in Colombia,” Gamba told Dow Jones.
