RE:RE:Company valuations JS4900 -
A large E&P or super-major will not want the Colombian onshore exposure IMO. Outside of the shifting landscape in Colombia, the break-even for these onshore fields are around $50/bbl and require extensive capex to keep them producing.
As we heard of the Exxon earnings call and other large E&Ps who have reported earnings - they are re-focusing their efforts towards value over volumes. At the center of their strategy is lowering their overall company breakevens.
In my opinion, CGX Energy's offshore licenses meets this unique criteria (i.e regarded as industries lowest breakevens). They are also in the unique position to negotiate operatorship - which (again) is what the larger E&P / super majors are after.
If posing the question: what would a large E&P or super major acquire with continued rising oil prices? - I can't see Colombian onshore assets and associated Colombian infrastructure being on their list of priorities.
Just my two cents...