RE:RE:RE:RE:Here we go!!!Ljmorin,
I personally was expecting $3-4 at spud. Still might happen, but it looks like your $2 target is looking more realistic. Horrible asset management if $2-2.50 is the peak CGX will go during spud announcement.
Ok, they don't want to JV because they believe they are sitting on the next greatest oil discovery in the world. Fair enough. At the vest least, the JV should champion/promote that Kawa-1 story to death so that share price will go up right now so that they could maybe do a share dilution (say 50 million new shares at $3 to get $150MM cash injection to ensure payment for the port and funding of a Demerera well) or something to get badly needed cash for minimal in return. That's what a smart company would do. The lifeblood of any company, especially junior oil, is cash. If CGX misses this opportunity to get some "easy" cash because they have a greedy partner in Frontera hoping to have the entire future operation exist with one well result, that's just plain crazy.... epecially when they have so many other opportunities that also need cash.
In fact, if it wasn't for folks on this board/stocktwits/twitter/etc talking about the opportunity, CGX would probably still be at $1. No one would know about it. If anything, I should be thanking these folks I just mentioned for spreading the story of CGX to help attract new investors and thus making my investment look better at the moment.