RE:RE:RE:RE:RE:CGX - up for sale - asking $20.00
It is not out of the question. I am stating that a similar license in the Gulf of Mexico went for about $2.5 billion. This is a similar situation. The CGX licenses have value and can be sold for what I think is about $2.5-3 billion dollars or $20+ dollars a share without further drilling by CGX. The Exxon find has derisked the area and Jaguar drill found gas and several layers of oil shows before they capped it. Just don't know if it was commercial or what because they had too much pressure. They need to redrill this site.However if they want to sell then I think the price mentioned is fair. We are only going to get one shot at drilling if they raise monies for a JV and it most likely won't be in the range of $20 even if they hit.