RE:RE:RE:RE:Spud dateA real blast to start the short trading week... a whole 8 shares on the TSX!
The fact we are still talking about financing less than 2 months before likely spud date is truly embarassing. Great job CGX management. Guyana government sure has a stable partner in CGX at the reins with their offshore assets!
I think ultimately Frontera will just convert the recent loan into more shares at .89 cents later this summer/fall provided they like what they see in Kawa-1. If the well is not a great success, Frontera will just seize more of CGX instead on the cheap since the loan is fully secured by all assets of CGX.
Whatever the hell happens, I just hope Frontera allows this well to jump to $2-3 before spud date. They keep talking about 'maximizing shareholder value'... great way to do this is letting the share price to move upwards so that folks like myself can sell some shares. And from a 10 yr plus selfish standpoint, I really do not want all my CGX investments (and small gains) to stay at .85-.95 cents/share while we drill and have it all ride on the success of one well.
See what happens.