CGX Energy Inc V.OYL

Its a hustle

[journeyon]

[rockman998]

I owned this stock years ago when they drilled their initial well and I also owned PRE. I recently bought back into CGX. The timing was more good luck then anything else. I didn't think the price would go up until they began to drill and I'm surprised the price has tripled in less than two weeks. The run up in stock price over the last ten days I think is to raise money or at least to

[OIL_RUN]

This is certainly an option. However, de Alba has always stated consistently Frontera/CGX preferred path forward is to bring in a JV partner. Furthermore, the terms of such a strategic venture arrangement must take into account the massive de-risking that has taken place across the Northern Corentyne area. With Apache's Maka only being 7 miles apart from the Northern Corentyne Area

[rockman998]

I agree De Abla is looking for a big payday. Whether its JV or financing it will dilute FEC's share of the play. So it will depend on the best deal. A financing if possible, is simpler and easier for shareholders to understand. Either way I also agree that there will probably be an anouncement this week so they don't have much time to manipulate the stock price. Often with these financings

[Ebenizer3]

yeah, management don't exactly give u that warm and fuzzy feeling. Hav to wonder why in the hottest basin on the planet doesn't hav a jv, my guess is there negotiations are on the rich side. If the 3d derisked it or 3d isn't as good hoped. Noticed the rig contract dropped the option for demerara which is a good thing, don't really want any part of that 11' api sludge that they

[tiger77]

Oil_Run....How do you know there was 10 or more bidders that responded and is it like a standard RFQ where you can see who pulled down the RFQ?  If so can you share who registered to respond at least? Thanks, Tiger

[Rapsani]

The 10 bids for 3 blocks is public inforiation. https://oilnow.gy/featured/suriname-bid-round-closes-with-interest-shown-in-less-than-50-of-blocks-offered/ That tells us there are 7 that lost.. and I excpet Da Alba is having conversations with them.  What could be a twist is the blocks that were awarded are all joint ventures...perhaps Da Alba is only looking for one more player, not a

[waitingstill]

I wonder if it is possible to find out what the winning bids were on those blocks offshore Suriname?

[jada13]

Would be very insightful to have.

[tiger77]

Says the guy that joined Stockhouse today...

[Rapsani]

I'm looking forward tiger77 to more of his/her/their insight and thought leadership. What a great week for all of us. Looking back at previous posts general consensus seems to be 2-3 bucks when drilling started.. with some outliners at more like 4-5.   I don't think any of us imaginee we'd be where we are a month before drilling.   Volumes are outstanding. I