Post by
liquorwolf on Jan 31, 2022 7:55pm
Congratulations to all of those involved in the campaign
The results will becoming in sometime by the end of Feb, including the well costs. As mentioned, CGX is in need of cash to pay their share. But as I said before, their benefactor will provide the funds for CGX shares. The question when finalized will be how much of a percent does FEC own of CGX. I estimate somewhere in the 90% plus range. This will cap the price of CGX because FEC would then be in no hurry to make an offer for the remaining 10%. You see what I am getting at here. I would expect both to turn higher tomorrow, but FEC will bolt ahead more so. Remember, CGX can't monetize their share because FEC controls them. Look at the market caps, they don't make sense. You see what I am getting at here. If CGX's market cap is almost 1 billion, then FEC should be at the least $1.5 billion. So I see a 50% upside on FEC, but no more than 20% on CGX. Of course, bit gushers on the next two wells can up the ante. As usual, comments welcome.
Comment by
cranao44 on Jan 31, 2022 8:55pm
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