RE:Suriname discovery signals extension of StabroekAton wrote: With Total paying 100 million upfront and carry 5 billion dollars on our neighbour block and now a gigant find at Maka-1 just a few kilometers away I think CGX sits on a golden hand here. Now we can sit patiently and await drill-targets and more info from the new 3D with prospects in the golden triangle MAKA / PLUMA / HAIMARA, and hopefully a farm out of 30 - 40%. CGX will move up but as always weak hands will be taken out while we wait.
https://oilnow.gy/featured/explorers-hopeful-suriname-discovery-signals-extension-of-stabroek-mega-oil-play/
Aton..... Good point. The value of CGX is its 3 prospecting Licenses and the more than 3.2 million acres of now, in my opinion, proved hydrocarbons. What was the acreage of Block 58? Total paid 100mill and carry 5 Billion in development costs.
Based on Oil _Runs comments I calculate CGX valuation at 1.82 per share... I think that is a little low.
WindyHill