CGX Energy Inc V.OYL

Government is in a tough spot

[westcanpride]

This new government is in a tough spot with CGX/Frontera. As much as the government wants to see new development and competition in the Guyana Basin, CGX/Frontera is realistically not the duo you want sprearheading any projects. Why?.... Well CGX has not once over delivered on anything over the past decade... and we are talking bare bones basic stuff. Everyone knows this. Frontera, though helpful in bringing some sanity to CGX via press releases/new seismic/new website, is not going to be the white knight that helps fund the ambitious projects (wells/port) that we keep hearing about. We are talking well over $500 million dollars just in up front costs to see anything resemble the promises CGX/Frontera is talking about. Not going to happen. Hell, the costs alone are worth more than the market cap of CGX/Frontera combined. 

I feel for the government. You have both massive IOC/NOC entities coming directly to Guyana seeking investment opportunities. You have foreign governments caring about Guyana for once and sending high level members to speak with Guyana government officials. No doubt I am sure Guyana would love to eliminate CGX/Frontera completely from the picture and give the land to someone who would actually drill wells and have money to build ports. This is a no brainer. 

My guess... the government is stuck with CGX/Frontera due to long-standing legal agreements. Sucks for them (but good for us long-suffering holders of CGX stock). However, there is no way in hell the government is going to extend the drilling dates with only CGX/Frontera acting as JV partners. That is a sure fire way to see no success and would be politically foolish. The governemnt is probably working hard negotiating on the behalf of CGX/Frontera to come up with a new JV partner (another failure of CGX/Frontera in being unable to find their own partner and instead new the help of a government). This will take time, however, and very plausable we could go into 2021 without any news releases. 

My sincere guess: CGX will become a minor holder of maybe 10-15% of any new JV deal going forward. No way a major IOC/NOC company comes aboard to sit backseat and allow CGX/Frontera to control the reins. No way in hell. These companies exist to make money, not use excuses like covid to waste another precious year doing nothing. 

With that, "cheap" shares are still aplenty on the various exchanges. Truly the gamble of one's life investing in CGX stock at this point. Everyone knows I have and will continue nibbling away. At some point, we will get news. Quesiton is when and in what capacity.

[soulfire]

WCP you're still nibbling after you've proved to yourself why you shouldn't be in this stock? Man, you have a lot of guts. I have to hand it to you.

[westcanpride]

Definitely not easy soulfire. Believe me. Especially losing out the past 10yrs on having my money wasted in CGX shares when it could have been making money elsewhere on the largest bull run in stock history.  I have always felt oil was possible in Guyana. Exxon and Apache are showing this right now in spades. And we have land right next to them and our seismic lights up like a xmas tree

[ljmorin]

The other considerstion that gets the government politically off the hook with CGX and is a win win is a complete buyout of CGX. This satifies the investors financially in Guyana, Takes the pressure off the government and puts a major in to do actual development. IMO.

[zerbo]

Totally agree with that, I'm counting on it!

[westcanpride]

I would 100% be on board with a CGX buyout!!! 

[YancyDerringer]

WE are going to be bought out by the UAE! Either Frontera and CGX or just CGX! This will happen I predict before Christmas!!!:)YD

[zerbo]

Dubai royal in Guyana on oil business  Nov 20, 2020  News His Highness Sheikh Ahmed Dalmook Juma Al Maktoum Kaieteir News – President, Dr. Mohamed Irfaan Ali yesterday met with his Highness Sheikh Ahmed Dalmook Juma Al Maktoum of the United Arab Emirates (UAE) and an eight-member delegation in Guyana on a three-day official State visit. Over the next few days, His

[jada13]

How much you figure.I was thinking 7 to 10 US .

[zerbo]

Well, think about we basically have same oil quality as Exxon and Apache. I asume we could have some 4 to 5 billon barrels thanks to late publication. Do the math and divide by aprox 280 millon shares. Yeah, Thanksgiving makes me dream.

[Rapsani]

Oil_Run has put a great analysis in August here: https://stockhouse.com/companies/bullboard?symbol=v.oyl&postid=31392454   Net is estimated value, risk to unrsked, aorund $10-$20 U.S. per share.    So $10 U.S. doesn't sound unrealistic.    At about $12.50 Cdn I would be quite happy with it.   Happier though with $20 :)

[Windyhill]

Thanks for the REMINDER Rapsani........... Oil_Runs post is definitely worth the repost. GLTA. WindyHill

[AnMar]

For those of you keenly following OIL_RUN's posts: (with all due respect for his polished posting style) If you look back into OIL_RUN's posting history you will quickly see that ~99% of his posts are on the OYL board, this dates back to 2011 - so why is that? Has he been planted here by the company's PR team, is he paid by CGX to post, what exactly is his interest here? Don't be

[jada13]

And a Port in a pear tree.You know what I want for Christmas.

[jada13]

Catman24 I bought you a Koolaid mixed party pack.lol