Well results should be independent of any deal! There is a big difference between negotiating a JV/buyout deal and releasing well results. In the case of CGX, all shareholders (even minority) should be able to make a decision on how they want to invest their money going forward. Right now, we have no idea and are in a waiting game. And the fact a JV/buyout is potentially ongoing, and these well results could be used by a third party but not shareholders is a complete joke. At the very least, it gives the third party even more power to make a deal on their terms and does not all the market to dictate (even a small amount) what it thinks a potential 200ft column of oil in the Santonian could mean for CGX energy from a market cap perspective.
Then again, Suresh and his management team have never once negotiated with Frontera in good faith to achieve maximum value for CGX Energy as a company. It's always been selling the farm for pennies on the dollar. It would not surprise me that they could be negotiating now with a third party and doing precious little to maximize value. Hell, Suresh and his management team in essence gave away 5% of the company in August for less than $20MM (I don't count the port as any value right now since that bloody thing is a joke in its own right). This is what probably scares the hell out of most people, including myself... the management team has no problem giving away the company for pennies and will probably do the same with any third party. Least if we knew the well results, would could least say something. Instead we watch helpless and desperately hope they don't fu*k things up even more.