RE:RE:STRATGEY As a historian who has watched frontier basins emerge into prolific production hubs - the common theme observed is consolidation. It's inevitable.
As we are sitting here watching from the sidelines - we have yet to see the most powerful card (or hand) be played. That involves the government helping facilitate a transition for a more sophisticated operator with deep pockets to take control of CGX's assets.
I have often seen host governments directly engage E&P operators to ensure resources are produced in a timely manner. One that protects and promotes investment in their country. Also ensures stranded discovered reservoirs are optimally developed at the lowest cost.
Some may say - that's ludicrous. Why would the government want to get involved? The reason they get involved is to ensure they have the right investors / operators in their basin that can see their resources developed in a timely manner. All the government is doing is helping guide the process.
There is also the flip side where things don't go right and there is a stalemate among investors, operators, and government where everything slows down to a snails pace. I am talking decades go by and there is no path in sight to develop the resource. This is the worst outcome.
Total/Tullow/Africa Oil Kenya project is a perfect example of a stalemate. Who is to blame? All of them.
The Guyana Government has the ability to level the playing field - no more games - you want to invest, here you go. Keep your word and it will go well with you. Help me, help you.
If I were CGX, I would be doing everything I can to align government and CGX interests. That involves a coordinated exit - everyone wins.
CGX has played an important role in shaping Guyana's path to becoming a vibrant oil production hub. I don't think anyone would object to this. However, all things come to an end - nothing lasts forever. It's time for CGX and Frontera to acknowledge - they need turn the keys over to someone who can take the reins and see the N Corentyne discoveries are developed in a timely and efficient manner.
The Government of Guyana, I suspect, will advocate this. In turn, facilitate the identication and selection of the future operator that can take Guyana to the next level. Lead. Look for solutions. Don't create problems. Simplify / not complicate. Align interests. Win-Win.