RE: Sully Interviewed by the Wall Street ReporterHere's some notes I took from the interview:
- 125 million spent on 3D in the basin by operators
- 4 Wells being drilled starting in October by other operators, 3 x Suriname, 1x French Guiana
- Total 6 wells being drilled including Jaguar Q2 & Eagle Q3
- Eagle is a mirror image of the Jubilee discovery in West Africa (1.8boe)
- Jaguar target 1boe, 250million CGX share valued at $10 post discovery, 2.5billion market cap or
$15 per share. (30 bagger as quoted by Sully)
- 1 in 5 or 6 chance of success. If discovery is made by other operators, increases chances
- 35 million to drill Eagle following Jaguar well.
- Moratorium on offshore drilling has helped make equipment available and lower prices
- If successful, several more targets in the sandbox (at least 16 total of 200mil+)
- Believe story lacks news but will attract many new investor interest if a discovery is made
- Time to prove all these "theories" after 12 years