De Alba Fascination is weirdSome of you folks on this board truly think he is the second coming of our lord savior based on recent comments still happening. CGX could probably tank to .50 cents and some of you would still think its part of the master plan De Alba has in place.
As some folks have pointed out... we are massively undervalued. Yet these jokers, De Alba included, cannot even drum up enough interest to keep the share price above $2. Its remarkable how badly they are taking advantage of this well in so many regards. I thought CGX was poorly run prior to the spud of Kawa-1.... since August, its been nothing but a comedy of errors.
Consequently, in my opinion, De Alba and company have failed in there job to protect shareholder value. Not securing a JV prior to entering the reservoir zones in Kawa-1 is a big mistake. Any oil and gas executive with experience would tell you that drilling a exploration well is full of risk and requires proper mitigation strategies. Myself included though he would secure a JV. Instead his award of 'dealmaker of the year' looks to be a big fail when applied to the oil and gas industry.
De Alba and company are going 100% full gamble and hoping Kawa-1 hits economic oil. Any JV partner waiting on the sidelines are taking 0% risk at the moment. That's not prudent.
If CGX does get fortunate and hit economic oil, then his gamble pays off. If it fails and they do not, he should be fired ASAP. His strategy here is akin to a GM in sports hoping a few big gambles pay off. Definitely not what I had hoped when he came aboard.