RE:Head-fake For Leverage or Truth?Its not fake but doesnt look good, with the cost of the wells way beyond 100m us$ the fact that after two wells they need to appraise with no numbers in regard to amount of recoverables is bad.
Cgx has no money and sorry for all holders but the mc is a fake otherwise they could dilute 10% and fund another well, they cant because every serious investor knows this mc is manipulated, so for any funds cgx looses its assets and will end up with nothing.
300m $ is a mc that represents atleast 150m bboe net for cgx or 600m bboe discovery.