RE:CGX and EcoGood post ranman1!
Just to underscore the trading imbalance that exists between Eco-Atlantic and CGX Energy:
Eco-Atlantic sp CAD $0.75 w/ market cap of CAD $190M. Eco's core asset is Guyana (will assume CAD $10M for Namibia to be conservative). As such, Eco's Guyana position of CAD $180M works to be around $12M for each 1% interest it holds in the Orinduk license (of which Eco holds 15%).
CGX Energy sp CAD $0.74 w/ market cap of CAD $195M - works out to be around $2.9M for each 1% interest it holds in the Demarara license - which is directly to Eco's Orinduik license. The Demarara license is notably bigger area than Eco's Orinduik. Moreover, CGX holds a 66.7% interest in Demarara!
In addition, CGX holds a 66.7% interest in the Corentyne License which is adjacent to Exxon's Stabroek license and Apache/Total Block 58 - with three world class discoveries just miles from the Northern Corentyne Area (pluma, haimara and maka central).
CGX also has 100% interest in the deepwater port and a majority 62% operating interest in the onshore Berbice license.
But for the purposes of this example - lets exclude the deepwater port (100% owned by CGX), the Corentyne License (66.7% owned by CGX), and the Berbice license (62% held by CGX).
We will just compare Demarara vs Orinduk and assume they are of similar size, resource potential, etc.
Taking Eco's Orinduik valuation of ~$12M for each 1% it holds in Orinduik and apply it to CGX's 66.7% percent in Demarara: $12M * 66.7 interest equals more than $800M.
Yes, as Ranman1 has commented, there is a very significant imbalance between CGX and Eco-Atlantic. I agree - we should start to see the valaution gap between both companies start to narrow over time.
As an investor, if you like Eco-Atlantic - you will fall in love with the valuation of CGX Energy.