RE:RE:Disappointed.westcanpride wrote: I suppose a long history of massive disappointments doesent help CGX with potential investors. We havent drilled anything since 2012 (and those two wells were big disappointments, for multiple different reasons). For a company with over 20yrs in this basin, and self proclaimed indigenous company of Guyana, they have done precious little to advance any real petroleum exploration and development in the basin. Even at present, these geniuses couldn't even get their most recent well location right and decided new 3D seismic was needed. Hell, even this past August, they decided to delay 2019 drilling in favor of said 3D seismic. Even now, not exactly like CGX has massive financial reserves to drill multiple wells... money is very tight and guaranteed all potential JV partners know this. Look at Frontera... the paid in essence very little for 33% concessions and like 70% of CGX stock. When your so void of any financial strength, your bargaining position is minimal. So for as much potential exists geologically, the biggest thing holding the stock back is management and probably government involvement.
we must keep in mind....CGX is EXTREMELY lucky to be alive and in it's current position.....it should have died many deaths over the last decade or so ....it's comparable to being almost brain dead in a coma and miraculously coming back to life...anyone who is a long time holder really should remember how bleak things were not that long ago...this company has never had financial strength and this is no secret....I think this will take off once they get a JV and drill program in place...also lets be very thankful that we have been so greatly derisked