Idiots Link at bottom. Bottom line, a farmdown/complete sale needs to occur asap to someone. It's clear Suresh and his "connections" to the government are dwindling very fast.... we used to own so much land offshore Guyana. Now it's down to ~1000 sq km (which yes is still a huge ton... but it's a bloody crying shame we couldn't get even a penny for the blocks we relinquished... talk about horrendous asset management). The government has seen the light with Exxon JV/external interests in other offshore blocks, and now realize they have two worthless companies killing time with northern Corentyne... and even worse, idiots like Vega making public statements that purposely kill off discovered resources. The government no doubt is probably furious.
No wonder Frontera stock also lags tremendously... they own 90% of this entire northern Corentyne play via shares/WI and now have everything riding on a JV/farmdown. They don't have the money to continue drilling wells and exploring uphole targets for optimal production capacity.
Bloody fuc*in morons across the board in both CGX and Frontera. Hopefully this investment bank Houilian Lokey can pull off a miracle for everyone involved. Sure as hell no loser currently involved with either company will be able to do anything going forward, that's for bloody sure.
https://newsroom.gy/2023/11/17/cgx-gets-two-years-to-determine-viability-of-oil-find-at-corentyne-block/