RE:RE:Waitingstill While I also agree Waitingstill as to the necessity to liven the conversation as to the failure to account for results at this time and the commerciality of said results, it is unlikely that they will correct the record.
I say this as the correction of the record when the slip of Wei-1 occurred, would have been easily dismissed with a brief statement that and to the effect: Wei-1 was a potential target in the block, that the Company was considering. However, the Company was still intending to continue with its plan of drilling Markapan as previously released but the Company would take into consideration it's future needs as they arise.
But they didn't, which to me was intentional as Wei -1 was likely the second target all along as mobilization of Maersk probably could not be guaranteed by the original expiration date and I am sure the government was giving CGX ultimatums in relation to Demerara. Also the risk profile of two wildcat wells was probably too much of a gamble. This recent release does have the unfortunate effect of raising the spectre of a more aggressive government against leaseholders with very preferential terms.
All I can say is that presently we suffer from the same issue of an inept management team that fails at key moments.
The only thing that will buoy this share price back north of $3 will be news of highly positive results, which we are still lacking. That isn't to say it is not positive without any news to date, as they could be holding off while courting a JV. But the clock is ticking.
I am just happy that I have been and remain long on this stock...not so much the management of the Company.