Santonian and WI… How in the hell does management and board of directors allow any WI to be exchanged without public knowledge of the Santonian hydrocarbon pay column?
Like hell, last year, they gave up ~30% to fund Wei and now another ~5% to pay for cost overruns.
For all purposes, despite finding what is likely a hell of a lot of oil in Wei, CGX has given away ~35% WI in Corentyne and has nothing to show for it from a financial perspective. Like nothing.
I hope like hell this worthless management team gets blasted at their AGM later this month. Suresh, Durkee, Lacy, Stockinger, etc.... the most useless and inept bunch of losers you could ever assemble to manage an oil opportunity. No wonder someone like Jennifer Budlong left... she told them where to drill for oil and then left once she realized how utterly useless they were.
CGX will likely get crushed again tomorrow and fall well below $1CAD. At this point, we will be very lucky to see $2CAD a share ever again. Why the living hell would any IOC/NOC pay a premium for Corentyne acreage when Frontera has repeatedly shown they value it so little? The optics and math make absolutely no sense to me.