Material news one would think… https://oilnow.gy/featured/corentyne-block-with-the-state-govt-in-no-hurry-to-consider-next-steps-for-cgx-bharrat/
Last week, Frontera CEO says in a 2Q call that the block is still moving forward as planned. Does this news above imply only CGX has lost the block but not FEC?
Presumably if CGX truly is without a block, any pending JV/farmdown becomes nullified since they don't actually own anything?
Clearly without any official news from either FEC or CGX, something is still going on behind the scenes and someone is lying. Very sad nonetheless that we minority shareholders have to get updates via OilNow articles derived from government meeting minutes.
I guess if the rumor is true and folks believe local Guyana individuals are hoping to load up on cheap shares, this current approach works well.
This upcoming AGM will be interesting. I have no idea how any of this could have happened, yet here we are. Everyone knows a pig like Suresh is useless. Saying that, whatever accomplishments guys like Durkee, Stockinger and Lacy had prior to CGX in their careers, all of that has been flushed down the toilet. These three weirdos were supposed to add brains, experience, and common sense to the organization. Instead they have enriched themselves at the expense of shareholders and have delivered absolutely no value.