CGX Energy Inc V.OYL

Long Napkin

[Mat1791]

First (Current),

Based on $0.80USD X 338,550,000 = $270,840,000USD Port Value (conservative)
And, $16,500,000 / 4.7% WI = $3,510,639USD per 1% WI Corentyne (latest fleece)

Therefore,

27.3% WI = $95,840,445USD Corentyne Value + Port = $366,680,445USD
$366,680,445USD / 338,550,000 = $1.08USD per share

Second (500,000,000 BOE)

500,000,000 @ 5% Current Brent Price = $4.24USD per BOE = $2,120,000,000USD

Therefore,

27.3% WI = $578,760,000USD Corentyne Value + Port = $849,600,000USD
$849,600,000USD / 338,550,000 = $2.51USD per share

Third (3RD Drill @ $181MM Cost, FFS!)

At 18% Final WI for CGX
$3,510,639 X (27.3 - 18 = 9.3 WI) = $32,649,500USD Raised
18% of $181MM projected drill costs = $32,580,000USD

Therefore (500,000,000 BOE)

18% WI = $381,600,000USD Corentyne Value + Port = $652,440,000USD
$652,440,000USD / 338,550,000 = $1.93USD per share

[Coloradobuff]

So you think a buyout of $2.51 usd a share? That would be disappointing 

[Mat1791]

Nope, I would take that and run...

[fishfanactic]

After screwing up the drill program and costing several .million more you should be happy with 2.51 a share