RE:RE:Long term holders I've been holding CGX since the days of Tullow's Zaedayus well across the border over a decade ago. I am hopeful but have been bit enough in the past to still be ready for something to come. The language in the release that has me a bit concerned is the wording in the release. "The Kawa-1 well encountered approximately 177 feet (54 metres) of hydrocarbon-bearing reservoirs within Maastrichtian, Campanian and Santonian horizons based on initial evaluation of Logging While Drilling (LWD) data."
177ft of pay over a single clean reservoir interval is huge. Over three horizons? That's territory for a good "technical success". Which would mean they proved up a working petroleum system, but in non commercially producible quantities. Working on that side of the press release elsewhere before, phrasing and punctuation matters. Now it's possible that due to the small cap nature of the companies they're still trying to be a bit guarded, but I'll remain cautiously optimistic.
I still expect a pop as this finally derisks the acreage, but I'll wait for more details.