177 ft (54m) discoveryFirstly, this is absolutely unreal news and certainly a transformative day for both CGX and Frontera. Oil discovieres of this nature do not happen every day, and it provides De Alba and CGX management with many options going forward. Many congrats also to their risk taking abilities... they literal stuck their necks on the line and it paid off!
Everyone knows how I feel about stock market manipulation and its impact on prices. I always knew oil was a strong possibility (with a realistic risk), but it was always the wild stock swings and crazy behavoir of management always scared me most. With that, I do sincerely thank many of the folks on this board for keeping my thoughts and ideas in perspective (mainly due to their 20+ yr connection with CGX). Like I said earlier, I bought back into CGX in late 2021 and I am very glad I did.
Looking ahead, who only knows how CGX will trade... Under $3 CAD is certainly over. Management obviously has many things to think about now and God only knows how the coming months and years wil unfold. At any rate, CGX the company everyone has known is dead and a new company emerges tomorrow morning with actual oil discovered and a meaningful future.
To this end, congrats to everyone who will make a meaningful profit on CGX... for some of you, its been literal decades and you deserve every penny!
Cheers,
WCP.