RE:ErmospStark, Loving this play the more that I think about it. Two points of view though, from what I've read. From long term investor point of view seeing that over $300 million in shareholder equity which is an unrealized loss until cgx hits, then lots of money at risk. The longs paid big to get cgx to this point. Hopefully they've averaged down. Some longs are frustrated that cgx asset base is being eroded away. Understandable.
Yet, from new investor point of view, who have invested nothing to get cgx to this point, it's an appealing play. A buck a share for a debt free company to drill a well with impressive working interest in the hottest play on the planet.
Some poster named BoDiddley has been knocking the prospect based on geology though. Bo said that the clean sands are lower down in the basin. I thought that the heavier sands decant first and are updip with the finer, lighter shale forming clays decant last and are found deeper down dip. Also Bo said that Wei was downdip from Kawa. I thought that Wei is updip. Maybe I misuderstood what he wrote. Need serious clarification on this. Maybe it comes tomorrow during agm.