Candax Energy Inc CXEYF

RE: RE: Chaal - Possible Announcement

[Condor7]

You're right of course, perhaps a better phrase would have been:
 
"I'm hoping the authorities ..... ", rather than "I'm thinking the authorities ..... "

So, either we lose an excellent prospect due to consistent failure, or we reduce our WI but gain a new partner (possibly a GeoFinance organised match ?) .... an extension to the licence, and a date to re-appraise the Chaal structure. 

It could go either way, but Geofinance certainly won't want to lose such an asset, so lets hope that new management can convince ETAP to give them a chance. 

First priority is EBB3 online, and to restore some cashflow.
 
Lastly, since there was a lift around 21st December 2009, we should be crawling our way towards another one soon, even with our reduced production levels. With oil around the $85 mark, we can soon add that to our balance sheet on top of the Geofinance cash injection.

Better times ahead ? .... maybe, but the jury is still out.