RE:RE:RE:CGX - UPSTREAM ONLINEsoulfire - I guess it means to some that even though CGX is the main reason that there is even ANY offshore drilling in Guyana never mind 9 billion barrels found by Exxon much of which would have been on Surinames claims had CGX not paid for the ITLOS tirbunal, has drilled the most holes in Guyana other than Exxon, that they have completely the most seismic offshore (or second most), that they have drilled 3 holes onshore and 3 holes offshore, that they have at every turn hired Guyanese to the fullest extent possible, that they have supported their post secondary education, that they have helped their food banks, that they have supported all their oil and gas conferences, plus probably other things that I can not list offhand AND they lent their CEO to help establish a kiosk at the airport! Lol - just because CGX has done that does NOT mean they have done anything for Guyana and its people! C'mon. That is nothing.. To suggest CGX has done nothing for Guyana and its people is just dishonest, deceitful and harms current shareholders and suggests a strong underlying ulterior motive.
Now, to say that CGX has done NOTHNIG for their shareholders is another matter. They have made MANY bad decisions with regards to where to drill, how long to drill and test, how to settle the arbitration with Repsol, decisions on when to do seismic on Northern Corentyne, when to roll back the company, and missing deadlines. All of these have hurt shareholders and for this management sucks.
But to equate the two is nonsense and shameful in my opinion. I think CGX has done a lot for Guyana and hopefully the govt recognizes that and gives them another shot to prove themselves worthy of holding these massive blocks. I just hope I can say that CGX has done a lot for shareholders at some point in the near future.