RE: RE: Guyana Basin ReportThe CGX data room (s) were open for several months. Although the investor mood was bad at the time because of world economy I think the risks before permitter exploration were too high.
There is a lot of concessions available in the basin and finding the kitchens is expensive. However Murphy is very pleased with the formation info they got and I believe discovering where the sealed formations are is part of the permitter drilling process.
I am not sure they could frac these formations because they are a type of sand (turbodites) by the sounds of it so finding the sealed formations is paramount.
Also, I question why CGX would gamble by delaying a JV if they had an offer because they are heading for some serious dilution if they need to raise capitol through share offerings at .85 cents.
They could easily raise the share price if they would do their pr starting now. The basin interest is starting to rumble and they should be at the party unless they have a very very major deal done that they can not disclose.
I will bet you that the emails we have sent never got past May and I doubt anyone is aware of our concerns. Bullboards are not their game.aes