Relaxed I won't lie, I actually feel very relaxed regarding my CGX investment now. They discovery of a 210 ft pay zone in the Santonian (likely much of which is continuous) cannot be understated. Add in another 77ft of secondary pay in overlying zones and you have one hell of a discovery. Many similar sized sandstone reservoirs have been sanctioned by Exxon into development mode!
At this point, we just wait for news on a JV/Buyout. The current strategy of going at this offshore drilling alone hasn't worked well for either CGX or Frontera from a cash flow/share price perspective. But I would almost certainly expect a major IOC/NOC to come along sonner than later. Many companies globally in the past 10 years have paid big money to buy into various basins globally (conventional and unconventional) and came up empty. Finding new oil and gas reserves is not easy! CGX has a winner in Wei in my opinion which really helps make Kawa even more attractive as well from a development perspective.
If share price does drop more, I likely buy more.