RE:Not sure ….what’s up ..I agree Frank, those who traded CGX for FEC in the past are in far better shape today and likely in the future. About half of the lost market cap of FEC today was the lost value of FEC's 77% ownership of CGX shares which are down about 47% in price. I think that FEC will start to recover next week as they are making good money and appear oversold. I note Morgan and likely their designated house trader bought about $750k of FEC shares today and did not sell one share.
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The Wei well results obviously pulled both companies down, there was little in the rest of FEC's news that was anything but positive imo.
H. Lokey, the Investment banker chosen to try and broker Frontera Guyana was the global leader in 2022 in M and A deals a Billion and under, and involved in almost 300 of them last year alone. Did more than Morgan and Goldman and other much bigger banks. If they can get a Billion for Frontera Guyana due to its very hot location and the esperts of potential buyers being able to make their own calls based on so much data available, A Billion for Frontera Upstream and $500mil for Frontera Mid Stream, I would be very happy. I doubt Catalyst and Gramercy only want to sell Guyana and be stuck with the rest. I think they both want to cash completely out of FEC. jmo