CGX Energy Inc V.OYL

Off$hore ain't for jr's

[Ogopogo007]

Drilling has taken longer than originally forecast and costs are projected to increase. The current cost estimate of the Kawa-1 well is now forecast to be approximately $115-$125 million

CGX may be required to seek additional financing in keeping with the ongoing drilling program and is currently assessing several strategic opportunities.

[Caryar]

I suppose they could be chasing billions of $ value? You've got spend to accumulate?

[Ogopogo007]

Yes Majors are happy to let jr's derisk by funding wildcat wells. Let the Jr's blow up share structure etc. How many shares out here? Not now...after they pay their increased bills for this hole

[CLOUDER]

WELL,  ogopogo   ,  i miss thoses knock down drag out banter we did on the EOG board.  good to see you here ,it means you do know your stuff.  THERE is about 40 million ish shares in the public square,   FEC does not sell A share, this should tell yu some thing.  ANY share dilution will be going to them   ,they are greedily vacuming up the

[Coloradobuff]

Sorry. It seemed obvious but, it's easy for me to say that as I have under 10,000 shares and for me this is a fun gamble.  those that have 100,000 or the poster with 700,000 that's real money and if it's 20-30% of your life savings it could be very stressing and you want to preserve capital. Makes sense, this is an all or nothing IMO. It's not like buying an undervalued tech

[Ogopogo007]

Clouder...perhaps you were posting under different alias on EOG? I did quite well on EOG and now reloading under 30 cents for next drill campaign &/or drill news from Namibia How's the rum this am? I gave that up years ago...along with a whack of coin betting on HRT...remember "no more dry wells" and they promptly drilled 3 dusters offshore Namibia and BOD cancelled 4th well to

[CLOUDER]

ogo,  hang in here my lady it`s a winner,  check out FEC this morning with the dow down big  and oil down $2,   FEC UP 35 cents.    i UNFORTUNITLY GOT SHAKEN OUT,   sooooo  i know CGX is a darn winner,    L.OL.                           but good luck.

[Ogopogo007]

Been playing the C19 Vax stocks like NVAX, selling covered Calls. if exercised...$60/share profit in 1.2 months. Crazy premiums Satiates every level of greed I have

[Miftee9]

This is only a problem if they miss.  If they hit, getting a JV will not be a problem and it will come with a whole bunch of cash and recovery of past expenses.  They are not going to put things on hold because the cash isnt in hand right now.  FEC will front and come collecting later.