RE:RE:RE:Concerns How am I negative waitingstill? Would you rather just read other folks posts that outline basic information and not actually get into details that might be of value?
"No news on what the seismic shows"... your kidding right? CGX finally released very detailed PPTs that show seismic over Corentyne and Demerra. Not that difficult from there to take the acres (which they provided!!!) of each prospect, and then go look at possible porosity, thickness and water saturation values (offsetting news releases via Apache/Exxon, literature from AAPG Bulletin/SPE, etc) and come up with your own oil-in-place calculations. Like seriously, we can wait all we want for the resource reports, but anyone with the ability to crunch numbers knows what we have for possible oil-in-place volumes. I have waited years to do these calculations. This is why I stay invested. 500 million barrel (or greater) in-place prospects (and possibly 100 million barrel recoverable using 20% RF) are not exactly something you find everyday. Finding money to drill these prospects is now the challenge. Everything always comes down to money!
My realism surrouding costs actually required to drill wells and develop projects are something you (and everyone) actually need to acknowledge! But nope, I actually outline very nicely costs needed to drill wells, progress discoveries to production, etc, and I get labelled as negative. Ha!
Like I said, I am hopeful someone takes over 50-55% of the WI and leaves us with 10-15%. This will allow us to actually see share price rise above $1. Saying that, it probably hurts CGX and Frontera to know that they will need to bite the bullet and give the land up for little monetary return other than guarantees of wells being drilled... especially Frontera. Then again, what has Frontera management done correctly in the past 3 yrs other than allow the market cap of the company to plummet 85%? But the idea we will get a big payday for giving up the land in return for WI is not going to happen. If it did, it would have happened years ago or even in the past 6 months (anyone interested could have easily seen the seismic, even preliminary processing and made in-house calculations)! Please, you or anyone, please show me examples since March 2020 (when covid broke loose outside of Asia) of where NOC/IOC companies have paid massive premiums just to buy land blocks that have no production, no reserves, no infrastructure, etc? In $40 oil and sub $3 gas worlds, companies do not have millions of dollars to just throw around for the hell of it to enter any basin or project. Most companies barely have enough cash to fund all there current projects (most are burrowing to do so!) and most will post massive 2020 negative free cash flows. But hey, if you (or anyone else) continue to think someone will come along and pay CGX/Frontera massive money just to join along before sinking one penny in drilling wells, what can I say... I admire the hopefulness. I really do.