Post by
dragonfly454 on Feb 14, 2022 10:57pm
Claritin-D
Good night ladies and gentlemen, First some clarity on the Demerara Block,I am pretty confident that CGX is not going to relinquish that block.Kawa does not derisk the play type on the Demerara Block ,Joe and Jethro created more questions to just assume that the CGX section has light crude migrating updip from the Stabroek Block can only be really established by drilling only ..at this time CGX needs finance to do that ..Kawa has significantly de-risked Wei-1. By drilling an exploratory well at Wei-1 will add significant value to CGX by confirming what we know and it is very similar to Kawa and there is also Lau-Lau nearby .CGX and FEC would always have to team up with a major to take these resources to Production so by moving to Wei-1 is a very tactical move for 2022 and is in keeping with maximization of Shareholder's wealth plus prudence and common sense.The Guyana Govt would appreciate this and CGX will be granted that extension on the Demerara Block ok.No worries here mates. News on Kawa is being filtered and the Share price is whipsawing a bit but the trajectory is there and a floor is being hammered into place ...CGX would not be focusing on Corentyne Block and the Western flank of the Berbice Canyon if they had not the fullest confidence of having unlocked the mystery of the Berbice Canyon ,the counter regional dip and the turbidites around Eagle area ..so we are now with a narrow focus in the short term and that is Excellent ...CGX in my opinion should be valued around $4.5 billion very soon just watch it..200 feet of pay is remarkable ..but wait on Wei-1 and Eagle Deep and see how this flies..CGX Longs HOLD and buy dips ...and to the Shorters ..sell short as much as possible it's always good to learn...
Comment by
Devanand1 on Feb 15, 2022 6:12am
I fully agree with your entire post. I see no reason why CGX should give up the D-Block at this time without at least drilling an exploratory well. They should get the extension and could drill that well later.. For all the yeras that I have been here, i find that CGX is now making all the right decisions . Never used to be this way. They have my full endorsement.