RE:RE:Shake out …lol Your never going to get any information Kelvin on anything related Guyana. CGX and FEC are probably under non-disclosure agreements (NDA) right now. Hell, Exxon themselves release almost nothing related to Guyana. Just the reality. This is not western Canada where well production data, well log data, cores, etc become easily accessible.
So at this point, it's an old fashioned stand off. Does one think De Alba and company will be able to strike a deal? If one does have belief, both CGX and FEC go up very nicely from these suppressed levels. But the idea that either company will disclose "new" well information to bring along new investors is a fantasy at this point.
To me it's very simple... 514-628 million barrels (that already assume a recovery factor, as part of the PR booking) that should sell for $1-2/bbl. Massive drilling and tie-in opportunities with Exxon JV fields immediately to the north. The opportunity is there!
I will say this though...the fact Frontera has not written off its Corentyne/CGX holdings is telling. Almost every O&G company on the planet, when faced with a horrible well result, release the news and hope to bury it forever. It's bad business to have investors and financial analysts keep bringing it up in conference calls. Thursday morning was a nice example... investor "Joe" asks/states his thoughts and FEC shuts them down immediately. That is an incredibly bad look for FEC... so either they are bloody stupid and don't realize how bad this looks on them with analysts listening to these inquiries (keeping a dead asset alive with no news) or they have a deal in the works and can't say anything (hence the NDAs). My guess is the NDAs. How fast before finally announce something.. anyone's guess.