RE:RE:RE:RE:RE:RE:RE:RE:Harel HugsMbxwatcher wrote: I own only two spec plays, this and one other.
Speaking strictly for myself, there is only one reason to buy into something like CGX energy and that is the hope that you hit a homerun.......For me ( I do not assume why others do what they do), it feels natural to look for posts that support the chance that I may well hit that homerun.........Unfortunately over my time of doing this, most of my spec investments went the way Harel feels this one will go.
Harel's opinion does not affect me in any way, because i knew when I bought CGX that there was a good chance i strike out. Therefore I only invested what I could afford to lose.
Therefore, I feel that Harel should go on posting his opinion, and each reader can give it the weight that they feel it deserves. Frankly i feel the same about rocket ship posts that say we are going to the moon. (although i like those better!!!)
For what it is worth, CGX is a very small, insolvent company, with leases and opportunity in the best developing region in the world for deepwater drilling. We are kept alive by FEC, and probably some forces in Guyana that personally I am not privy to. If Kawa is commercial, and Wei is commercial, than we should get a buyout on the shares not owned by FEC. I cannot see how we survive a dry hole which I think is Harel's point. The leases held by CGX have value, I feel as if their relationship with the Guyanese government and people have value, and that is why a company with absolutely no money is still around. It is also why I am still around.
Anyway just my opinion, and I feel sharing informed opinions is valuable which is why i read this board. They come both positive and negative and both are valuable to consider.
Well said and worthy of the repost that I have just given.
Nice to see an objective post from someone holding a position in this play. CGX deserves the leeway that they are given by the government - CGX paved the way for everyone else to have the opportunity to explore the basin without having to worry about being attacked by a neighbouring country; I don't think Exxon would have stuck around in a hostile environment. In my view, the government, and by extension, the people of Guyana, owe CGX for the assistance the company extended to the government during trying times. Having said that, something has to change within CGX's management, the status quo is untenable.