RE:RE:RE:RE:RE:RE:CGX and FECYeah its tough Chulo. Who knows.
Like you said, CGX owes Frontera a lot of money to pay for Kawa-1. Frontera would love to get this money back either through new shares or additonal working interest.
End of day, Frontera could easily force CGX's hand and get their money back for pretty cheap (as they have done numerous times in the past couple years). A new rights offering at $2.50 CAD would not shock me. The irony, however, is how is Frontera then supposed to go and argue that they should be able to get a much higher premium for a JV buy-in when they do not have any money to develop squat in Guyana? Its almost like Frontera wants the best of both worlds (shares/WI from CGX for very little / massive buy-in from external party). I guarantee executives at other companies won't be played for puppets like De Alba has done with CGX. If they see Frontera getting additional CGX shares/WI for additional pennies on the dollar, no way in hell will they kiss his butt and give him a massive premium in return.
Who knows, maybe the government will step up and help CGX pay for costs going forward. Would actually love to see that... CGX become flush with cash via government help and thus can push back at Frontera and tell them to shove it.