my case..............I want to put forward my case for saying, "CGX is and has never been a 'high risk/reward' stock.....rather its always been a high "wait/reward stock"
When i made my 1st investment in this stock back in 1999 i was told by a work colleague (who later became a good friend), that was born and raised in Guyana and, at that time, moved to Toronto, to never sell my shares......he always told me, "everyone (in Guyana) knows there's TONNES of oil offshore"....he also told me he knew several politicians who had a big stake in the company....
Over the years this company has had 1 hurdle after another put in front of it.....Surinam gunboats in the early days, had to wait years for the 'law of the sea' decision......more bad decision's from a terrible management team, more and more waiting.....economy downturns, oil prices flat, more waiting.....still terrible management plus covid and devastation to oil companies share prices and profits, more and more waiting.......BUT
I would say that 99% of companies who encountered the above hurdles, would be toast....and most even after just 1 or 2 of the above incidences......and yet here we stand? One has to ask how a small, poorly managed company like CGX is still here after 20yrs of the above mess? How are we now in the position we are after most any other company would be dead long ago?
This company will not die because those "connected" investor's want their pot of gold....and they wont let go until they get it.
Now that we have a partner and brought in DeAlba, our poor management doesnt mean much....i guarantee u they(Frontera/DeAlba) r running the show.....we correctly shot more 3d seizmic to better sell our potential to possible suitors.
I agree with those that say the election mess has little to do with us and that it is more about the right conditions to get a great deal.......
Those who say our stock is 'more likely to go to zero' either havent been here(on this board) long and dont know our history or simply dont have a clue.
At 1st our wait was years......our wait now is down to months......but, imho, it has never been a high risk to me.....just HIGH WAIT. GLTA.......u will all be rewarded for your HIGH wait!!