CGX Energy Inc V.OYL

The "Magical Chair"

[westcanpride]

I know Oil_Run and many talked about the magical chair as a nice analog for those wondering what to do leading up to the press release of Kawa-1. They were right... the music stopped, share price spiked nicely yesterday above $4 and many were dancing! However, that share price is back down to $3.25 and in essence and big sustained/pump folks were looking for has been completely erased and we are pretty much back to levels seen on Monday before the halt (with only a small premium now). 

In truth, for all the massive risk/heartbreak many have taken holding CGX for all these years, the current share price is a joke. Yes, $3.25 is certainly better than $2.50 seen for most of January and certainly better than $1.0-1.25 seen for much of 1H 2021 prior to the big run up in early June. With all that, the price to me certainly makes one wonder if CGX is truly capable of exceeding $5 or more. If 177ft of hydrocarbons cannot do it, what the hell will? Guess we truly do need a big pocket partner now if we hope to see a real nice bump in prices. 

Then again, Frontera is still well below 2017 share price levels ($12.5 vs ~$30s) and its clear the market is not overly impressed with their discovery/current operations (depsite having close to $90 brent also).

[dragonfly454]

Yeah WCP ...tough for the long toothed longs indeed ...good for me I was doing other stuff ..now some one can just come in and cherry pick with considerably less risk...its all the past dilution and dry holes ..we should see a catalyst at the well completion...confirming 300 million barrels of oil and low API and share price rebounding downwards to $1.45..because it seems we are in Upside down

[FatsDomino]

They have a ton of work to do to prove up anything about this new hydrocarbon-bearing zone. And that will take LOTS of cash. They have made that very clear. Smart money sold on the pump. Now if CGX is lucky, they do a pp at this price level. I think it will be at the $2.60 level. This was clearly a pump -- all ya gotta do is look at the trading before the news. And then note all the pumpers doing

[edmed]

I agree with you Oil run after 12 years of being here it has become apparent to me that CGX should never have been able to hang onto its leases all these years and that we are here today enjoying this drill result for one reason only I have always felt that CGX has a close and warm relationship with the government in Guyana.  They are in fact I beleive the representatives of government

[Ermosp]

The SP sucks because that news release was the minimum positive NR that could go out.  We have no idea on oil quality and whether its commercial e.g, no idea if the stock has inherent value. We have no idea what the financing options are. Dilute is the default option, unless stated otherwise. Everyone, including shedrills, was way too excited on Monday. Now everyone is way too glum

[Goldy63]

Or you can get into an Oil play thats producing quality Oil now and after the last update will be producing a lot more . Yes it,s not a big find but the numbers are going to ramp up and Clouder is already up as the stock went up 20% on decent volume today. Ground floor is where big money is made. GLTA here and yup the naysayers and shorts all over OLY sad to see but reality. Tc and stay safe and

[ljmorin]

I don't know about you but this long12 bagged some. And still have a big chair for the next round.

[Coloradobuff]

7.5-8 bags for me. I am a smaller player. I want no less than 10$ a share. She drills $8.07 target is conservative. There aren't many CGX shares out there so people are trying to manipulate. That's cool I have held like many others for 22 years so no rush here. Kiss my keester bears!

[FatsDomino]

That's called the pump. What do you think the pumpers did on Tuesday when the halt lifted? Sorry fellas, you've been had. I hope y'all learn from this.

[Ebenizer3]

what's that old saying " can't see the forest for the trees ", before Mt. St. Helens blew people were warned, meaning a JV could happen quickly, cgx is in a target rich environment ur either in or ur short and be happy with it. with Shell(who walked out before the lisa discovery) and Chervon who has missed out of the fun or selfish Exxon who probably want to protect their

[ljmorin]

They were all flying around CGX like Vutures readying to pick away at the dead flesh and bones. Now they have to nice to us/them.  I love it.  They Band is just stiking up again Oil Run, I can hear them coming. GLTA again!! lj