RE:John Doe you ignorant …pr..ick Frank007 wrote: Go check out Frontera financials ....lol 3 x cpg ...and climbing ....ignorant pri .ck
You're a BSer Frank. Yesterday you said they discovered 210 feet of pay, I said 77 feet. Here's what's in their release
Discovered 210 Feet of Hydrocarbon-Bearing Sands in the Santonian, 77 Feet of Net Light Oil and Sweet Medium Crude Pay in the Campanian and Maastrichtian at the Wei-1 Well, Offshore Guyana
There's a difference between bearing sands and pay Frank.
Here's what CPG reported income wise
Net income for the quarter totaled $212.3 million, or $0.39 per share diluted
Here's what Frontera reported income wise
The Company recorded net income of $80.2 million or $0.94/share in the second quarter of 2023
Does that look like 3x to you? I'm not the sharpest knife but 3x on CPG would be 1.17 so it's quite shy of that wouldn't you say?
And here's the problem with the Guyana find. Frontera doesn't have the financial capacity or the technical expertise to develop the asset. So what's going to happen? They're going to have to induce a major to do the work and invest the capital. What do you think that will cost? The majors have lots of opportunities and those opportunities have to compete for capital within the major's portfolio. Pretty much the only way this gets developed any time soon is the major taking a massive percentage. Frontera may ultimately end up with a less than 10% interest in it when and if it produces
Have a nice day Frank