Perhaps what I find most intriguing from the information that has been released by CGX and Frontera over the past month or so pertains to the Demerara license.
Corentyne, to me, has been properly assessed and de-risked given multiple world class discoveries that reside just miles for the Northern Corentyne Area. These world class discoveries include: Pluma, Haimara, Maka, Kwaskwasi, Keskesi, and Sapakara. Both the Santonian and Campanian play types have been de-risked with further upside expected in deeper Turonian and Albian and Aptian play types (per recent comments from Apache). With a median resource estimate of 4 billion boe in this area with a high assessment of over 7 billion boe - there is much room to run. As de Alba put it all focus is being made to "realize value" for CGX shareholders.
However, after review, Demarara appears Ron offer intriguing value that perhaps is yet fully understood. Given the recent presentation released by CGX, the first prospect to be drilled "is over 30,000 acres in size; it is larger than any known discovery made to date in the Guyana Suriname basin". Furthermore, "is a single albian / aptian play type" - which is in the Cretaceous known to hold high quality and high value oil.
Just think about that statement - "larger than any known discovery made to date in the Guyana Surinam basin". Size of this prospect is perhaps more than 1.5 Billion barrels of recoverable oil which about the size of Liza.
Also, this prospect on Demerara is up-dip of Liza (still in deepwater) - and lies at a depth of roughly 12,000 feet. At face value, this is probably a 30 day well program and can be drilled for less than US $30M.
Lots of questions here on this prospect. Tell me another oil prospect (not gas) around the world that will be drilled in 2021 that is of this scale and magnitude. I can't think of any...
Food for thought this weekend... looks like we are just getting started and a valuation that at least accounts for monies owed under cost recovery.