RE: RE: RE: CGX Web Site kaosblues - I agree with most of your points. I am a huge advocate of the trans-atlantic margin theory - watching it unfold with the discovery of Jubilee, Jupiter, Mercury, Venus, Narina, followed by Zaedyus, and hopefully extending to Jaguar. No one is better at drilling or identifying these deep Turonian stratigraphic fans than Tullow - and CGX is fortunate to have them as a partner in Jaguar. You and I are good here.
The disagreement seems to center on the question - why did CGX lose 2/3 of its value (in 1 day) and what was the cause for such a sharp decline in CGX's share price. I tend to believe the sell off was not 100% contributed to the dissapointing results on Eagle Shallow or a phenomenon.
Don't forget on the same day of announcing dissapointing results on Eagle Shallow, shareholders learned the CEO was been fired 3 days earlier, and a new CEO has been appointed (who was is actually the ex-CEO). Furthermore, it seems we also have a new board chairmen. Furtherstill, shareholders learned the company need to raise an additional $20M. That's a big pill to swallow, would you agree?
I am dissapointed with CGX's management and board, collectively. I hope the CGX board and management can appreciate how their recent actions the past week have impacted investor sentiment. I agree with you - CGX should be trading at .70 right now. But, we are not - and there is (in my opinon) a reason why.
It is good to know that you (and there may be other shareholders out there that feel the same way) are not bothered by any of this. Everything is fine - business as usual. I am sorry - I am an old man and believe in principles that may seem outdated. I believe trust is central and critical for any good investment. Tullow I trust. CGX I do not. Which leaves me seeing this thing through Jaguar.