JAN-25-2013: PRE'S 1ST OFFSHORE OIL DISCOVERY Looks like PRE's first investment (as it relates to offshore exploration drilling) has paid off: https://www.pacificrubiales.com/2013/560-24012013-pacific-rubiales-confirms-oil-discovery-on-the-karoon-blocks-offshore-brazil
PRE should feel be feeling a little more confident with its decision to invest in companies that have good prospectivity offshore. This would include CGX (Guyana), Karoon (Brazil), and BPZ (Peru).
Recall, both BPZ and Karron received significant fianncing arrangements from PRE - ranging from $360M-$250M. Recall earlier post (https://www.stockhouse.com/bullboards/messagedetail.aspx?s=oyl&t=LIST&m=31594242&l=0&pd=0&r=0).
On paper, CGX (based on reserve estimates and offshore creage position in Guyana) - appears to have the best upside potential compared to the other assets PRE has (BPZ and Karoon).