Frontera Energy Corp T.FEC

CGX Must meet commitments for all blocks

[kcac1]

https://oilnow.gy/featured/if-cgx-cant-raise-funds-to-meet-commitments-thats-none-of-our-business-jagdeo/

It does not look like CGX is going to get anymore extensions for the required work program for the 3 blocks.

Anyone wish to comment on how they think FEC will play this?    I think they pay 100% of cost of Wei and the Joint Operating Agreement for Wei-1 spells out what FEC gains for CGX's cash shortfall in the drilling costs. I would think once Wei results are known, a deal is made by CC and the other hedge fund to Capitalize on their investments. Between the two, they own very close to 50% of the shares. 

Any other thoughts by anyone?

'If CGX can’t raise funds to meet commitments, that’s none of our business' – Jagdeo | OilNOW

[chulo123]

FEC has actually a dilemna. First, I must say that, fortunately, FEC has money this time. If I were them, without any doudt I will meet with all of Demara's and Berbice's commintments and push for Guyana's developments. Colombian assets are actually pending on political elections next june 19, so there is little certainty over them. Aside from that, the company's Colombian assets

[kcac1]

I think all depends on Wei well results, if it hits big...I think that de Alba has already been working with major players.  The most logical fit would be for CC to sell FEC to CNOOC.  A socialist government in Colombia is likely of little concern to the CCP and actually might be a plus.  Surely, they could convince whoever is in charge to keep the Colombian Oil flowing based on