RE: A lot of ifs ands & buts Hey Joe,
I think at the end of the day that CGX will never get knocked out of this area play as Pacific Rubiales will always step up to the plate, just at what cost. At present they are minority stake holders (35%) even with the exercise of warrants (41% but then CGX receives another $25 million) so really can't control events yet. That said if the JV conditions are too painful for the company to consider then I think you will see PacRub take control of the company through the next PP. That said you could end up in bed with a far worse company as these guys really seem to know the business and especially the region and are well connected. Should they take control I think you will see a very nice return on your investment over the next few years. But if CGX can do a JV/farm in on Jaguar on very favorable terms then I think that is the route they should pursue, with or without PacRub agreeing. Although if PacRub wanted too they could make it very difficult for the company to close a deal so would think they will have to like/agree to the terms of a deal also. That said I think the next 12 months could be the most important/lucrative in the companies most interesting history!
Longrider