CGX Energy Inc V.OYL

Scamming shareholders unfortunately

[Coloradobuff]

How do you have two oil discoveries and can't make any sort of deal? So sad....

[Zibo510]

The short answer is 2 oil discoveries do not confirm commercially viable discoveries.  Since no flow test or DST were completed the question as to a commercial discovery is still unknown and an appraisal well would probably be the next step.  Drilling another well is an expensive gamble with no guarantee of success.  Since the Kawa well data has been available since May 2022 I am

[TickerStock101]

I think they probably had offers after Kawa but the JV didn't feell the price was right, and that they could squeeze out more value by drilling.

[waitingstill]

A good deal takes time. Plus, if you want multiple bidders, you have to wait and not just jump at the first offer. I will try to be patient until April. That should be sufficient to get all bids in and see where we are at.

[westcanpride]

If we are going to kill another couple months, sure as hell wouldn't hurt management to release updated resource evaluations for the Santonian and Campanian. While they are at it, perhaps release a schematic of the SLB development plan and potential costs associated with that.  Least give all shareholders an opportunity to evaluate the full potential of Corentyne, instead of hiding like

[Kelvin]

Boy wcp, you really do have a knack for focussing attention on the core of what drives this play. The EUR (estimated ultimate recovery) which any competant petrophysicist could infer from the SLB development plan. Nobody has mentioned the SLB development plan before. Great idea! Let's see it! There's lot's of talent in Calgary that could easily work out a reliable asessment about the

[Zibo510]

Waitingstill I hope you're right but hoping for multiple offers is pretty optimistic IMO. I have been following this story since prior to the border dispute and OYL has always been looking for a JV partner the whole time. Other than Repsol and Tullow who JV'd with OYL on the Demara PPL which fell apart the only other JV they have attracted is FEC and that hasn't been a great success

[waitingstill]

Well Zibo, the way I look at it, if you take the first offer, you guarantee no multiple offers. Yes, CGX has never been able to attract a beneficial JV but they have never had 2 successful discoveries before either. These big companies take time to assess these plays. Geo exploration teams need to do assessments, recommendations need to be made, boards need to be consulted, finance needs to

[Zibo510]

Hope you're right, bear in mind that Kawa results have been available for almost 2 years and no bites, so it looks like everything hinges on Wei.

[ohu812]

Oe Bluefin

[ohu812]

Sorry. or Bluefin

[Coloradobuff]

You think there will be offers in April? 

[TickerStock101]

They are in talks the last I heard in their virtual presentation . They obviously know what they are sitting on and aren't going to give it up for peanuts. It's j ust a matter of time for a deal, they willl negatiate with multiple buyers to get the best offer then release the news at a convenient time for all parties. Patience is the key.

[Caribman]

They have oil and oil isn't going anywhere,this is the last cheap buying opportunity I see. IMHO