Speculative Money:With the news release that the Inpex well is finish drilling many were expecting the Inpex results to be released to market soon. Most likely this will not happen until next year (might not even be January), at least until Inpex determine what their next move is -- do they want to bring in another rig first? It could be a long wait for Inpex results to hit market. This will cause a lot of speculative money to leave the stock until next year. In any case, the company already have a market cap over $370 million so it's hard to see how the stock could move much higher without actual results from their own wells at this point. Even if Inpex had released good results to the market today, I can't see the stock going higher than $1.5 as it would make CGX worth over half a billion $ without any of their own drilling even started.
This could be dead money until next year in my opinion. If anyone disagree, what is the catalyst from now until next year? Jaguar will not be finish drilling at least till Sept 2012 (6 months normal time without any delays to drill Jaguar - if drilling starts in January, count two months for delays plus 6 months regular drilling time). Eagle Shallow results will not be ready until at least April/May - Drilling might start at end of January (Rig should be done in Gulf and moved to Eagle location by end of January then add 2 months regular drilling and half month for delays).