Two questions for the board? 1. How low do you think the will push it today?
2. Who is stepping up and buying or averaging down?
There will be blood in the streets today, but that is when money s to be made in situations like this. They were obligated to drill Eagle-1 to keep their license PERIOD. It was the icing on the cake and not the real desert.
As manyhave stated on this board, Jaguar and Eagle Deep are the real prizes and we just learned a hell of a lot from Eagle-1. The data room is now open and if Eagle Deep is as promising as many think it is - the data won't lie and we should get a JV on that well. Our back is in a corner now and we won't get a favourable deal on the remaining Corryente PPL targets, but at least we have some value still.
Its sad to say, but Between now and Jaguar results is when the vultures will be circling to swoop in and rape and pillage the CGX value. I hope we can hold off the buzzards until some positive news from Jaguar, but its gonna be tough. Call me stupid, but I bet that Tullow/Respol/Inpex were all waiting until Eagle-1 came up empty before they took a real long hard look at the remaining prospects. They're not stupid and knew the data room would be open with even more results from Eagle-1.
GL to all.