Houston, We Have A Problem From Frontera PR today...Guyana: On the Corentyne block, offshore Guyana, Frontera anticipates spending approximately $120-$140 million on the Wei-1 well, which will be funded from existing resources. The total cost of the Wei-1 well (including 2022 pre-drill costs and costs related to drilling delays) are forecast to be approximately $160-$170 million.
From Frontera PR dated July 22, 2022...As apart of the Agreement, CGX will transfer 29.73% of its participating interest in the Corentyne block to Frontera in exchange for Frontera funding the Joint Venture's costs associated with the Wei-1 exploration well for up to US$130 million...
Imo cgx has a free ride for its share UP TO $130m US. You read that different? Today we learn Wei is forecasted to be $160m-$170m. You read that different? Let the spin begin. Lol