RE: RE: RE: RE: Patience I followed CGX Energy a long time ago and already posted many times why I told people EOG is way better play than CGX Energy for multiple reasons. One of those was EOG has much less financial risk than CGX. EOG don't even need to drill a well and be worth north of $1 billion which would put the stock price well over $10. This can all happen in 1 year or less given all the wells being drilled offshore Namibia in the next 1 year (including Walvis wells by HRT). Also, if EOG does get to the drilling stage, their wells will cost less to drill than CGX Energy given the shallowness of EOG targets.
A reminder, UNX Energy taken out for $730 million for their Namibia offshore blocks without even getting to the drilling stage. Now consider that EOG probably have some of the best blocks offshore Namibia (just ask Azimuth) and you quickly realize that any one of those many wells to be drilled in the next year by several companies hit oil and EOG valuation should at least double the UNX Energy valuation which puts them at a minimum $1.46 billion without drilling a well of their own.