AGMTo suggest no active data room in the AGM.... wow.
At this point, if we go into drilling Kawa-1 without a JV at somepoint in 3Q, I am out. I will liquadate my entire position at whatever the price may be and be ok with that. It would be painfully clear Frontera would be ok with gambling their entire Guyana position on one well. This flies in the face of everything practical financially and geologically rationale, even if great discoveries exist nearby. If economic oil discoveries were that easy, no dry wells would exist in Gulf of Mexico, North Sea, etc, near massive fields there. Not to mention Frontera does not have excess money to just keep drilling wells and hoping for the best (and hence probably why did not mention anything about Demerera being drilled... they know the entire Guyana position is riding on one well right now).
Apache was able to drill their initial Suriname well because they had money in the bank and credibility in the oil market. Frontera and CGX do not. To go 10 months and not secure a JV is a joke.
Frontera/CGX might have great land positions, but their actions make absolutely no sense. Kind of hard to see the share price climbing back up to $2.7 again anytime soon... in fact $1 makes more sense near term. Management has nothing to offer now other than hopes that Kawa-1 comes in successful. No JV or new $ coming in to compliment the company. Wow. Utter disgust from my end.