CGX Energy Inc V.OYL

CFO shares sale does not mean anything

[oldcompanyman]

Folks,

As I have stated before on this board, there is no way CGX or Maersk Drilling can stop news leaking from the rig, absolutely no way, because the 120-140 guys on board all have a right to talk to their families on a daily basis; there is no way around that, you would have a rebellion on the very day you would try to stop this.

I mean, I would like to think that I am a calm person but if any client/employer took the liberty to prevent me from talking to my wife and kids, they would stick my dayrate up where the sun doesn't shine on the spot and I would get off that rig.

Therefore, when something is gonna happen on board, it will be reflected on the SP, immediately. When you see the evolution of the share price in the last days, there is nothing to be worried about, no volume change, no price change, a bit up, a bit down, everybody is waiting.

In this context, the fact that the CFO sold x amount of shares is fully meaningless to me. If she had a reason to sell that was "objectively valid", we would have seen much more volume and a plunge. Everybody has their own risk tolerance and she may have just decided not to see the end of the well, I respect that decision, like all the other investment decisions.

Last one, it doesn't make sense from a timing perspective neither, on the 13/10 they had'nt yet drilled through the Santonian based on what dragonfly wrote regarding the intermediate casing being run just before. It doesn't make sense with my time/depth curves neither.

So, in short, the CFO made a personal decision, like any other shareholder, based on her needs and risk appetite but there is no conclusion to be drawn from that, at least not based on facts.

GLTA,

[oldcompanyman]

"through the Campanian". The first target layer I meant.

[ljmorin]

Just poor optics, she should be $hit canned though.