RE: Possible Value of CGXThis post was posted a few months back but I just want to take a look at it for a moment. CGX posted on their website an approximate total of 2,600-2,800 mmboe for Eagle and Wishbone. The values posted by OIL_RUN are therefore in my opinion correct. This is absolutely massive that CGX owns 100% of Eagle Deep and Eagle Shallow. The value determined by OIL_RUN was $104 a share, that is insane. If CGX does not give away any more shares or if they don't do anything out of the ordinary that value is semi realistic. Even if Eagle only obtains 1/2 - 3/4 of the assumed value the SP will be approximately $50+. This is great news considering I believe drilling will start before Christmas because of Ocean Saratoga stating that the completion will be done by early December and it is in the Gulf of Mexico. The distance between the Gulf and Suriname is approximately 5000km, lets say the speed of the rig is 12 knots or about 22km/hr. This becomes about 10 days straight cruising. Give it a 10-20 percent give so about 12 days to arrive in Suriname from the clearance in the Gulf. Assuming a date of finish is the 10th of December (later choice but could be done earlier in the Gulf) arriving at our site for the 22nd or so. Set up could start immediately and the countdown for the 60 days could start very soon.
I hope all of this works out for us. We have been waiting patiently and I think it should be all good come Christmas time.
Good luck.
Hollywood