CGX Energy Inc V.OYL

So let's hear everyone's thoughts?

[tiger77]

I'll be the first to say I was wrong and pleasantly surprised they kept the call going for an extra 11 mins to make up for the start.

[OIL_RUN]

Notes... 1. They have not yet drilled through any of the three prospects yet. However, very close to intersecting the campanian target. 2. They will likely be running two casing strings to reach TD. Likely they will run a string before they drill into the Santonian.  3. For NW fan complex, they can drill exploration well that could penetrate (evaluate) 3-4 campanian / Santonian

[Dirksidetrack]

Yeah all good Oil_Run but the question that I get is why did the CFO sell.

[Rapsani]

Sadly we knew they were not going to address after the opening statements which indicates they know it's a hot topic.   And now that we are aware they are close to the pay zones you would think there would be a freeze on insider trading until results are public. They didn't get to (or avoided) questions on the 2nd well, i.e. is it immediately after this drill is complete as

[SheDrills]

I think Suresh was the guy who didn't have his phone on mute. 

[pathfinder8]

as to the CFO selling her who 85K position which she purchase at 32 cents on an option then sold at 1.50, the answer is some how she made 1.18 cents per share and with CGX governance anything is possible. In any normal company she would be in a blackout unable to sell, and it gets worse, selling with a rights offering in motion. Best a bunch complain to the TSX and OSC about this trade. IN the end

[Coloradobuff]

They should force her to buy back shares 

[OIL_RUN]

Coloradobuff - There is no need. I have already bought them! If prospective investors want any of my shares (including those recently acquired), they will have to wait until we see Kawa results. Unfortunately, they make not get them until we see results from the NW fan complex given information released this week.    

[tiger77]

Oil_Run check inbox

[Goldrush97]

I think there is high chance of the second well being drill in NW complex. Demerara block for now will have to wait.

[ohu812]

So I sold my THRM holdings and bought more OYL.  Just hoping THRM doesn't come out Monday with FDA approval and go to ten bucks. I have been freaking out a little and drinking more of late so looking forward to the end of this second round of rights offering.  Since I have bought more at a lower price should I just sell the rights or simply let them expire and if I sell them do I

[Coloradobuff]

Are you a buyer? I am not as sure. Other posters mentioned that cfo only liquidated 4% of her holdings. If true, than not as worried. This is my only binary play. Don't usually like all or nothing plays. Seems like gambling to me. 

[Studley]

Buying more.....should to buy some UAN as well to offset your risk .

[Ermosp]

To be clear the CFO still has 2M options in the green. She sold 4% of her holdings. The exact amount she converted from options 10 months ago. Some dumbe automated sell she forgot about?

[RHertig]

Seling 4% of her holdings to lock in a guranteed profit is smart. I don't see why the freak out. It has zero effect on the drilling or out come. 

[ljmorin]

That may be true RHertig, But to newcomers to this stock doing their DD Its optically challenging to say the lleast. I know myself if a was looking at say a gold exploration and saw that the CFO was dumping shares whie they were doing core samples I wouldn't touch it with a ten foot pole.  She should be canned and there should have been a blackout in place, But really who would of thunk

[Dirksidetrack]

Yup lj. Ya nailed it. Me? Fourty years in the oil patch all over the planet I've seen it all. So I take it in stride. But potential investors keep on asking if the play is so promising then why did she sell? Stock should be $3 by now. Share dilution, insider selling. Talk all about lateral 8's, green lines and bright spots that you want. Those aren't the optics that are swaying

[Phantomblogger]

ljmorin, yours is probably the nearest thing to what has been obtaining for the last week, which is the tanking of the SP, far beneath the "rights" as per Frontera. When the Chief Financial Officer does this, who supposedly is intricately aware of the "financials" behind the financial engineering of recent years, it does send the WRONG OPTICS. None of these optics really

[ljmorin]

I was also very sure we would be at around 3$ before TD, That is likely out the window now as well Unless we get some very Juicy leaks and certainly could happen. There will be leaks for sure, Just how credible is the thing. I sure wish I had my guy right on the rig giving me a play by play like I did on Jag.

[Dirksidetrack]

Yeah as I told you in a pm he's a buddy of mine from Red Deer. Now lives in Costa Rica and works in Indonesia. Toolpusher/ rig manager. But that wasn't tight hole.

[tiger77]

So I thought the call was really good.  I certainly wasn't expecting them to give out any information that was confidential so looking at it outside of that lens I thought it was pretty good and informative. I also found it interesting that they would elaborate further on COS or size they were going after but she did say that all the characteristics were the same as block 58 but with