Share Price $1.26 CAD... to think, most of us held through Wei-1 taking the financial risk of hoping hydrocarbons are discovered. Lone behold, they do discover a mammoth field and the share price tanks. I get it, CGX is out of money.... but so are a ton of other companies in many other industries, but their upside potential still allows them to demand some form of share price premium.
I can only imagine you 20yr plus holders of CGX. Hoping like hell the company would just survive, knowing oil might exist. Exxon then finds oil and everyone gets excited. CGX then finally drills a couple wells, finds big deposits... and yet after all of this, the price sits at $1.26 CAD.
On the other hand, senior management has enriched themselves very much via incredibly generous yearly salaries, so not all is lost!