CGX Energy Inc V.OYL

Takeaways for those that dined in

[Beaner1814]

Putting the present volume and stock price to one side, the presentation provided pretty valuable insight of the following:

1. The Board seems to have alot of strategic options that they cannot discuss, which would make another capital raise or onesided loan to Fronterra look really suspect. This should quell you all that like to bark up the wrong tree quiet...well until Wei-1 is completed;
2. The JV has interest from several majors in the area. This I am sure all of us are thankful to hear. But again I reitterate that the CGX Board better not mess this up because who wants to wait another 4-6 years to develop the Corentyne;
3. Wei is looking to proceed with less delays based on stipulated well design. This should translate to a drilling program that is more on schedule and within costs (fingers crossed);
4.Demerera is up in the air. Hopefully, CGX has terms with the Government that allow for it to retain a stake or at least be compensated for capital expended, as it is not looking favourable that we will be the lease holder come February 2023;
2. On Energy and Berbice are insignificant and not worth mentioning. Who would be disappointed if Berbice was sold and On Energy wound up? Not me, as we could use the capital injection from a prospect not worth the headache;
3. The port is not worth mentioning as it is the only thing concrete...pun intended.

[stark15]

Beaner, imho a good review....i would add, imho, DeAlba and company will not be waiting another 4-6yrs to develop the Corentyne. He wants to maximize value much quicker than that for Catalyst capitol......based on that we will be seeing a JV, just a matter of time.....and when that happens i believe the sp will take off because of the immediate cash infusion, while clearing up a way forward. I

[Ermosp]

Beaner, what made you infer 1 and 2? I think their caginess on the data room and JV topics can be interpreted any which way. They seem fully prepared to do Wei on their own.

[Beaner1814]

Based on what was explicitly stated by Dr Zoback, and the rest of the panel. However, I do agree that statements may be interpreted in a variety of ways, one of which being that Wei-1 may be be drilled by CGX and FEC without any further JV partner. This could be one of the strategic options being considered to raise the bargaining position of the JV. And I encourage everyone to do their own due

[jada13]

How true,why would the Guyanese Goverment give an extension to a cash strapped company like CGX if there was not a major already there on the side lines.I will keep holding and wait lol which is nothing new here and even buy alot more shares soon when the price tickles my fancy.CGX has a lot more than 9 lives which we have all witnessed multiple times.glta