CALM Quote from John F Kennedy: "the Chinese use two brush strokes to write the word 'crisis'. One brush stroke stands for danger; the other for opportunity In a crisis, be aware of the danger - but recognize the opportunity.
Carrying over from Tullow's announcement this morning - Hess is also trading down 4.5% with investor concerns related to Hammerhead (also a tertiary play) which crosses into the Orinduik license.
We have heard nothing but positive remarks from Hess and Exxon regarding Hammerhead. This fat Exxon has drilled two appraisal wells and conducted a flow test on Hammerhead - which met expectations and captured the necessary reservoir information to advance the hammerhead area to a future development candidate / hub.
We have heard from Gil Holzman the reservoir characteristics of Joe and Jethro are comparable to Hammerhead.
We can continue to speculate with fear regarding the "movable heavy oil" implications. There certainly will be some implications. However, the truth will eventually be revealed when Tullow performs a flow test (DST) on Jethro (like Hammerhead). From what Gil revealed this morning - it is very likely they will re-enter the Jethro well - side track and perform a DST.
Long term investor in CGX here - damn well grown a thick layer of alligator skin. Pleased to announce I have successfully purchased shares at $0.30 US on the OTM (CGXEF). Purchased as much as it would let me.
At the end of the day - what a great position CGX is in learning from others who are spending millions of dollars on adjacent acreage to prove up and validate our prospect inventory.
The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger--but recognize the opportunity.