Discoverer location Sry, should say satellite, FYI there are several phone apps and online services that display marine traffic by AIS and Sat.
I'm not too worried about when the rig mobilizes. There are perfectly valid reasons that it could be delayed, none of which would be GCX's fault, and none of which would decide the outcome of the drill.
I will reiterate though, that funding CGX for only two holes is a mistake. If CGX announed they were drilling multiple targets in Corentyne it would significantly raise optimism in the stock. Frontera boasts about their credit worthiness, and then loans CGX 19 million. It's a joke. Frontera should have borrowed more, then installed a credit facility allowing CGX to get down to business. This might even enable an equity raise, in which case a portion of the credit line would go unused. It would also push a potential partner to act. The more holes CGX projects it's willing drill on its own, the more likely it is that a farm in will have to pay more later.
Instead, Frontera are buying back stock and bragging about restructuring debt for 2% and the covenants. All the while major oil companies like Hess are selling other assets to fund more work in the G/S basin. I support cleaning up the debt, but they should have borrowed more..
I'm gonna give DeAlba the benefit of the doubt and assume someone is holding him back. Hey Catalyst, give your "deal maker of the year" the tools he needs to make a deal.
I am still bullish on CGX and the risk/reward of our first drill, but I'd like to see more agressive execution. In the mean time, have we formed a base? Looks like consolidation may be done?