CGX Energy Inc V.OYL

Thanks for the fun!

[IceDog13]

It has been a fun 8 weeks but I am out. With a target of about 250,000,000 (a guess at best with no actual info from CGX) with this drill my personal metrics put the share value at about $3.00-$3.50 on a successful hit, and essentially bankrupt if it is a miss. A bird in the hand is worth more then two in the bush! 

Good luck to everyone that holds. With a lot of scratch still invested in Guyana I really hope CGX has success.

[ljmorin]

It's gonna be 3 before the bit hit's the water  there Dog.

[stark15]

ljmorin.as icedog stated, he has only been around 8 weeks.....he does not know what we know....."$3 - $3.50 AFTER a successful hit"....wow, imho, icedog is leaving ALOT of $$$$ on the table.....to each his own, many will be glad to buy his shares....GLTA!!

[IceDog13]

There is a lot I do not know, and unfortunately, no concrete info out there to answer some fairly fundamental questions. The three biggest, 1) How big is the target Kawa?. 2) What are the calculated chances of success?. 3) Who is paying for all this? The best guesses I could come up with are... 1) In the neighbourhood of 250,000,000 barrels. With 2 billion barrels spread out bettween 27 targets.

[Rapsani]

Hi Icedog ..  all your points are valid, however, there are important considerations: 1. possible JV.. right JV gives us many more lives for many more drills (i.e. Apache if I recall paid billions for a position next door in Suriname's block). 2. value of all CGX holdings ..   there's an older link oil_run (respected long time member on this board) put together:  https:

[Windyhill]

Rapsani, good feedback to IceDog. The only Target IceDog is looking at is the Northern Corenteyne of KAWA . CGX has over 3.1 Million acres of Offshore real estate in Guyana that apparently has no value.

[OIL_RUN]

More recent valuation of the two prospects CGX intends to drill in 2021 - see link below:  https://stockhouse.com/companies/bullboard?symbol=v.oyl&postid=32621208 GLTA

[IceDog13]

Thanks a lot for this. Where did you find the info that KAWA is a 500,000,000 target? I looked everywhere but could not come up with anything. If this is the case, I would have to double all my numbers as I was using 250,000,000. Admittedly, this was a number I had to pull out of the dark using a best guess. The fact I had to come up with a best guess though says CGX really needs to hire better

[stark15]

You said it....u only been here 8 weeks.....we've needed better PR people for 20 YEARS !!! LOL.....GLTA

[OIL_RUN]

Given the primary objective of Kawa is Santonian and the secondary is Campanian - the size of the prospect will be similar to Apache-Total Block 58 discoveries. From what I understand, Exxon's average discovery size (discounting Liza and Tanger) is ~300mmboe. Apache's closer to 500mmboe - but, that is extremely preliminary given they have yet appraised any of their discoveries.

[westcanpride]

On the CGX webiste, slide 16, area of Kawa-1 is 10,173 acres... say for simplicity 10,000 acres. Example below using offset analog information (public releases of thickness and Google Scholar for Guyana information regarding porosity, water saturation, etc). Area = 10,000 acre Thickness (H) = 100 ft Average porosity () = 20% Water Saturation (Swc) = 25% Oil formation volume factor (Bo

[JJJRRR]

Agreed! This is why Over 3 million shares were bought at two bucks-yesterday alone!!. Leverage is incredible! The risk/reward is better than any other oil and gas play on the planet! GLTA

[YancyDerringer]

Dog your calculations are off, it is not  $3.15 and your basing your assumptions on $40 oil, we are at $75 oil.:)YD

[IceDog13]

The price of oil today is not how you evaluate a company. Simplified way to value a company is at $5 / barrel in the ground. A premium is $8, and a discount would be $2-3. Look at Oil_Now's calculations he kindly shared a few posts back. You will note, he is using a similar metric.