RE: RE: RE: RE: RE: RE: yes and no if they are shoppping for a partner or jv then one could do a quick calculation based on the idea that the pressure that caused the first hole to have to be plugged and abandoned was from the billion barrel field they think is down there then cgx's share at 25% is 250 million barrels which would have a value of 1.25 billion minimum at 5 a barrel in situ. the re-drill at 200 million means cgx needs to come up with 50 million for their share at that point they have two choices another PP at say 50 cents which i think would be possible in a good market which seems to exist right no and the share price seems headed to that level i would think Pacific Rubiales would take down the offering as it would give them control of the company fairly cheaply especially if the are believers in Jaguar that said if a JV/farmout is the way the go can't see them giving more than 10% or 40% of their 25% to a partner for covering the 50 million drilling costs if its a billion barrel field then the partner just bought 100 million barrels for 50 million and would make ten times their money at $5 per barrel if that is the case then CGX ends up with 150-180 million barrels and a share price of $2-3 dollars, if Rubiales does the PP route and the company ends up with @500 million shares outstanding then we are back to 250-300 million barrels on success and a share price range slightly higher say $3-4 If we can do the JV for 10% i would prefer that as those 100 million shares would raise at least $250 million in a PP after Jaguar success that would be plenty to drill Eagle deep on our own with 500 million shares outstanding and reserves of 150-180 million barrels of oil if we hit on Eagle deep and get even 1 billion barrels then we are at $12 per share instantly and if the 2 billion is there then $20 is possible if eagle is a duster then the share price will gradually climb as Jaguar goes into production at 100,000 barrels a day and $25 net back CGX's share would be $625,000 a day or $230 million a year for now on a field with a 27 year production life should be good for a $4-5 share price based on future drilling success on other prospects combined with the previously mentioned yearly cash flow if eagle deep comes in then production would be increased by 400% as cgx would put eagle into production at 100,000 barrels a day essentially jaquar scenario but all to themselves thus they would produce 125,000 barrels a day net between jaguar and eagle at $25 net back thats @$3 million a day or $1.1 billion a year such that a share price of $20-25 would be possible well that is how is see it let me know what the rest of you think i myself prefer a JV/farm-in if its for 10% or less