GREY:ENGFF - Post by User
Post by
Tinmannon Jan 04, 2008 10:23am
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Post# 14151668
Just look at OYL.U -- ENG is going higher...
Just look at OYL.U -- ENG is going higher...If CGX Energy is any indicator, you just know ENG is going higher.
I think CGX will be lucky to hold on to 30% of their interest post farm-out. Their resource potential is similar to that of ENG, mayyybe a bit less exploration risk. OYL.U's market cap is over $500 million right now.
If ENG has 1/3 the eventual working interest of CGX in a prize that's about the same size, you can make a case for a $150mm market cap quite easily... and ENG is drilling right away whereas CGX has to wait until 2009.
Wild markets indeed.