OGXSully has often used OGX as a comparison.They recently discovered 2 billion barrels offshore Brazil,and their market cap is over $25 billion.They however have $4 billion in cash to fund all exploration.
This article is a little dated before the full 2 billion were discovered,but the following point is very relevant:
"Doubling Share Price
The shares have more than doubled this year on speculation Batista may replicate Petrobras’s success in finding crude off Brazil, site of the largest oilfield discovery in the Americas in the past three decades.
Share values may quadruple once reserves are proven, which should occur in 2010, Mendonca said. This is because estimated oil and gas resources are valued at about $4 a barrel and measured reserves about $15 a barrel, he said. "
https://www.bloomberg.com/apps/news?pid=20601086&sid=aMoznugKg_C0
So if CGX hits,the key is to wait until they move from estimated reserves to proven....takes about 1-2 years. A lot can also happen in taht time :stock splits,takeout etc all would be positive.
But first...they have to find oil,no easy task.
Any other posts/opinions would be welcome.