RE: RE: No Warrants:CGX is a pure high risk play with all it's bet on two wells that won't be completed until mid year at earliest, everything else is pure hype. If there was a good chance of hitting commercial amounts that can be produced at economically viable prices, I'm sure Shell would have continued driling and not abandon the basin since 1975. The higher prospective zones for that basin is the Eastern portion where the two continents were joined, closer to where Tullow made their discvoery. If CGX had acerage further East then I might have been interested. At it's current valuation of more than $360 million market cap, it's too much risk to buy -- the earliest they can have any type of production if they were to find something on both wells they plan on drilling in 2012 is around 2014-2015. If they miss on their first well which only have a 1 in 5 to 1 in 10 shot of hitting, then the stock will easily go down by 70% considering all the current hype built in, that's just too much risk to reward for me.