RE:Bloom is off the rose ..I cant see how this announcement is not positive, however I think their PR is intentionally poor.
For example they never really tell you the whole story..........
Today, in the midst of all the good news, they announce that the well will be even more expensive.
For CGX this is material because they have no money, and no way to raise money without the express permission, and agreement of FEC. I believe that if Wei is commercial the actual amount is very small. Especially given the cost recovery formulas that SheDrills keeps reminding us of.
However, its that little overhang of doubt, about CGX's viability that lingers and gives the haters a valid point to make. This is an interim announcement to be sure.........possibly getting the news out ahead of a leak, but salient details are always missing.
CGX PR.............