CGX Energy Inc V.OYL

Wei-1

[down_inGT]

https://demerarawaves.com/2022/02/17/frontera-investing-over-us100-million-in-further-corentyne-block-oil-exploration/

[Schreibzey]

Thanks for sharing that article. Taking lessons learned from Kawa, does it sound a lot like they're going alone on Wei assuming similar costs. Guess the story could change quickly but what do others think about this?

[soulfire]

Does sound like they are prepared to go it alone although they keep stating "we are actively looking at strategic financing options" . My fear is, because Frontera will backstop these Wells financially, Suresh will just be his usual self and not care about bringing in a JV or even make an effort to get one. He is neither a financial nor an oil and Gas person. Great gig to have. Once

[westcanpride]

Hi Soulfire, "Suresh will just be his usual self and not care about bringing in a JV or even make an effort to get one". I do not disagree at all, but I would also say the exact same thing about De Alba. He has had ample time to ink a JV deal and has not done so either. End of day, CGX means absolutely nothing to him... his loyality is to Frontera. His lazy approach to not even being in

[soulfire]

Like I hadpposted before, I believe Suresh is working in Frontera's best interest (useful idiot). This is why DeAlba does not want to upset the apple cart.  Frontera will get more and more of CGX through Suresh's lethargy and inability to perform his duties. Hey, he knows where his salary is coming from. Just my take.

[Beaner1814]

From memory FEC provided guarantees to Maersk for the option to drill the second well (Wei-1). The projections provided are illustrations that they have factored those costs into a worst case scenario that it is a second dance of FEC and CGX only. My thoughts are that the "strategic options" being considered will result in a farm down as previously postulated by others. Given that we are