CGX Energy Inc V.OYL

Wouldn’t they already know results from primary target now?

[Ermosp]

As per news Wednesday, they had only placed 4 casings and had not drilled into any of the targets yet. But wouldn't they have strong signs of pay from the first target since they had drilled past it, especially if it was light and high quality?

[oldcompanyman]

Hi Ermosp, Given that they have run only 4 strings, they haven't yet drilled the first target; the 4th string is a 13-5/8" casing through which they will drill with a 12-1/4" bit (this is the operation that must be ongoing as of now) and this will be the diameter they will drill through the first target layer with. Furthermore as per the depths announced (70% of planned TD) they

[OIL_RUN]

OCM -   I interpreted the news release slightly differently.  I do think there is some credibility regarding an earlier post (whisp of a whisper) that the 13-5/8 casing string was set higher than expected and run around Oct 13/14.    I do intend to send some follow up questions regarding their original well plan and new well plan and hope those questions get answered

[soulfire]

OIL_RUN I read it about 3 times. It says the two main GEOLOGICAL targets are still to be drilled not to be confused with the 3 objectives. I interpret this to mean the Campanian and Santonian still to be drilled. Hope this is what they really mean. I think the market read it as one of the objectives is already drilled and had no shows thus the plumiting of the SP. GLTA

[OIL_RUN]

Soulfire - The precise wording says "the two main geological targets of Kawa-1 well remain to be drilled, cased, and evaluated".  Running casing is the last step in the process and performed some time after drilling and typically immediately after evaluation.  Do you see where I am going with the above?

[soulfire]

I hear ya OIL_RUN but it still says "remain to be drilled". Often times when we get and update (even though it's welcomed) there are still so many questions. I don't know if it's deliberate or just incompetence. NO choice but to wait.

[waitingstill]

Yes, a lesson in obfuscation for sure. OIL_RUN suggests all three events (drilled, cased, evaluated) need to be completed for the event to be completed while soulfire's interpretation that none of the three can be done for this to be accurate. Such bad wording. My guess it is intentional as they want leeway. But who knows!

[Dirksidetrack]

First off I am no geologist so this is pure 100% amateur speculation. The original sequence was Campanian, Santonian, Santonian. Why two stacked Santonians? Reading about the basin's geology from stuff that I have posted before, there can be two formations that was at one time just one formation because of a type of fault called a Listric Fault which usually occurs in canyons.So now we have

[westcanpride]

Dirk... "Why two stacked Santonians" Very simple...the Santonian lasted over a couple million years. As a result, multiple sand bodies could have easily been deposited during this time. Obviously they are targetting their primary (and thickest) one, as shown in the seismic, but additional sand bodies are also being targetted within this time interval and overlying Campanian.  Not

[Dirksidetrack]

Yeah like I said I am no geologist. I thought sediments were aged when they were deposited not how old sand silt, clay that the sediments are made of are. Gotta go revisit what clastic means. Yes looking forward to tomorrow! Long CGX!

[Miftee9]

I'm no geologist and dont know anything about drilling, but the Company sent emails to people complaining about Tralisa sellling her shares. From Stocktwits, I copied the following; "As the company is not in blackout, employees, officers, directors and consultants of CGX are not restricted from buying and/or selling their shares and/or exercising their stock options at this time."

[Phantomblogger]

"would be a pretty sad look on Frontera to be doing a press-release next Friday saying the rights offering is completed and that they are paying a pretty big premium on shares relative to the open market price" WCP, they should pay 2.00 per share instead of 1.63! We're here because of Frontera, whose history has been to drive SP down all these years. What's that about their sad

[ljmorin]

There's going to be some fairly crytic wording I expect tomorrow. They have to pump it up without pumping it up in a way. I would like them to start with, we are currently looking for a new CFO, as our current one has decided to take a permanent vacation. lol Should be fun to watch. lj

[OIL_RUN]

Good point! Based on the press release yesterday, I do think there are still three separate independent objectives in play as they released the seismic attribute maps of all three. Note, this new seismic line includes a clearly visible DHI (direct hydrocarbon indicator) located right square in the middle between the shallow and deeper Santonian objectives (sideways 8 - thank you dragonfly

[zerbo]

I think I will need a bigger calculator with more digits in the display ...

[CLOUDER]

SURE THEY DO.       ignor all you want ( at your peril),it is like an ostrich play anyway (a fools play)  just my opinion.  sure this could be a $8 stock   but 30 cents to no were is still  there    been there done that on this one a coulple of times.

[ljmorin]

I say never trust a loser that creates multiple profiles so he can uptick his own cred. hahahahaha

[ljmorin]

Excellent as usual Oill,  The question I sent in was: Is the Drill going as expected and consitent with the geology expected from the seismic data? It may be general enough for them to answer? Also check your in box. GLTA  lj

[Dirksidetrack]

I agree 100% Oil_Run but I think that US$12.81 might be a little light. Western Canadian oil producers are expected to have over $100 million Canadian free cash flow by the end of 4th quarter 2021. That's $100 million free, cold, hard cash that they can do whatever they want with after paying the bills and taxes or affecting the companies' operations or assets in any way.For that reason

[Dirksidetrack]

Correction free cash flow $100 billion

[ljmorin]

The one thing we do know is that Frontera/CGX even if they do hit, Do NOT have the means to produce it. Something would have to give of that there is no doubt. Buy out please and thank you.

[Ermosp]

Yes,  they have no means to produce, so either they have to develop that capability (and reduce their price per barrel slightly + take on huge execution risk) or farmdown to someone who can produce (reduce their price per barrel by at least 30% and avoid execution risk). Or they can be bought out. Not sure what happens in that scenario

[oldcompanyman]

Hi again OIL_RUN, I agree, as stated a few minutes ago, that we have so far not gone through any single one of the 3 objectives, on the basis of the information we have as of today. And the most important point on this whole Kawa adventure is what I copy-paste below from your text and what I had stated in my very first post on this forum. Not a single person on earth (certainly not the poor cfo

[oldcompanyman]

Hi OIL_RUN, Answering things in chronological order, I scanned quickly the other points but strating from the initial post (quit e a few posts in 14 hours of absence on my side). They will certainly set a string before the Santonian, very certainly. It is not advisable, for many reasons that are of no interest to the larger community here, to drill over 2,000m involving 3 different target layers