RE: CGX / GUYANA ON BRINK OF EXPLORATION SUCCESSSuperb post Donran.
By doing an analogy to Roncador which is 30K acres,and 600 ft thick with reserves of 3 billion recoverable,I believe Eagle Deep could hold 8 billion barrels (if there is good reservoir quality ,and the source rock is mature under it).
8 billion barrels,because Eagle Deep is 27K acres in areal extent but 2800 ft thick,so rougly 4 times the volume of Roncador(this would make it about 12 billion barrels ,but because it is deeper ,recovery rate is likely less so 8 billion is reasonable).
This would also validate what Sully said about attracting world attention,because this is the same size as the Tupi field offshore Brazil.
If CGX retains 30% of that in a JV,the value of 2.4 billion barrels is about 24 billion dollars. which would mean it could be bought out at $200/share ( I say bought out,because these companies always seem to trade below their true value so the tru value is if it is bought out).
But if they finance the project ,and dont dilute or JV...the potential is outstanding!
But that's only if Eagle Deep contains oil!!
I wish others would also post there opinions to keep this board alive,while we pass time.There are only a few who regularly contribute,and it would be great if people can post their opinions.After all.none of us really know,we only theorise