All one can do is shake their head! Since that faitful day on Feb 1, 2022 when CGX spiked on news of Kawa-1 discovery, the stock is down over 60% in ~2.5 months.... how in the living hell Suresh, De Alba, and the rest of the senior leadership in both CGX and Frontera keep their jobs is beyond me.
Even is jumping for joy over Frontera being ~$14-15 CAD/share... the price is only back to 2019 levels, when oil hovered around $60-65/bbl.... Frontera is still down close to 50% from when De Alba and his ilk at Catalyst took over in 2016/2017. Let's face it... these guys are horrific managers of assets. Its one thing to buy distressed companies/assets, its a complete other to actually run the companies. There is a reason guys like Warren Buffet do so well... they identify opportunities but then get other smart people to run the show. Wannabee heros like De Alba tries to be the jack of all trades and ends up failing miserably at maximizing returns on most things he touches. Don't believe me... go look at all the failed companies Catalyst has run into the ground the past couple years since taking them over. De Alba's fingerprints are all over these companies and he is doing the same thing with CGX.
End of day, these fools at Frontera are being given a golden opportunity with the Corentyne license and are literally piss*ng it down the toilet to due sheer stupidity. I get Suresh having no clue... he has no business, geology and engineering background. He is around soley for his ethnicity and the Guyaa government seems to like that (kinda like how the Montreal Canadiens always had to have French GMs/coaches for years, depsite WAY better options available on the open market). But my goodness, asset management by Frontera senior management is a complete joke here.