RE:CGX stock value YD, I think it's hard to put and arbitrary number on these types of things.
On one hand CGX is in a tough spot because everyone and their mother knows we don't have any money to do any further drilling which would value us less....
BUT....
If the drill results come in as good or better than expected I personally believe that will trump my first statement with companies wanting to get in "Cheap-ish" to a license that will be basically known to produce. IMO this will cause companies to put a bid in not factoring that we have no money, but more along the lines of they want the assets we have. If we had tons of money to drill more wells that would put us in a much better position than we are now but I will leave you with two things.
1. We need the lab results to be as good and verified or better than previously announced to give us ANY shot of cashing in at all.
2. What I do believe is that any offer for CGX or FEC or both will have to be a multiple of where FEC put money into CGX so I'd expect a multiple of $1.60 + What that multiple is whether it be 2x, 3x or more all depends on the lab results but that is the cruticial part here.
Lab results will make us or break us in my opinion.
I haven't sold and still believe.
Show me the money!!!
GLTA!