CGX Energy Inc V.OYL

Interesting quote in today's PR

[westcanpride]

"Any future drilling is contingent on positive results at Wei-1 and the Joint Venture has no further drilling obligations beyond the Wei-1 well"

Kawa, as a seperate field, is not volumetrically (and thus economically) large enough to warrant its own appraisal wells. Instead, it would require a tie-back to Wei-1 as part of a larger FPSO. This sentence in the PR above confirms this! 

Frontera truly has its balls on the line with this Wei-1 well!  

[Frank007]

Have you seen the seismic cutaway in the dec presentation....I worked for shell oil in the Mekenzie delta and out of tuktiutukta  doing siesmic in the early 70s ....I have never seen a better siesmic graph....unless it's a false presentation ....I am all in on this one ...even if it take a couple of years the return on capital should be a 10 bagger .....it they shake you out ..oh well but

[SportyJ]

WCP, I'm way out of my expertise here, actually I have no expertise in anything :) but this is my take on your post. First, future drlg contingent on positive Wei results....obvious. Second, to "earn" corentyne they were required to drill 2 wells by 1/31/23...they now have and under the license they aren't required to drill anymore. Third, go back and listen to the FEC Columbia

[westcanpride]

Hi Sporty.  A couple notes to your post, as I you make some interesting points.  Firstly, I think so many people are confusing the terms exploration and appraisal, its clear most have next to no experience with oil and gas geology (which ironically also includes many of the senior leaders in Frontera and CGX).  https://cgxenergy.com/wp-content/uploads/2022/08/Corentyne

[SportyJ]

WCP, thanks as always my friend. Correct me if I'm misunderstanding. You're saying that kawa, Wei and the central complex are all separate reservoirs/fields. And in and of themselves are potentially uneconomic to develop stand alone?  So would they be economic under your tie back scenerio with one fsbo?  I understand without reserve estimates this puzzle is very hard to solve

[westcanpride]

Hi Sporty, "You're saying that kawa, Wei and the central complex are all separate reservoirs/fields" - 100%.Seismic portays this in their online presentations. Anyone who says otherwise has absolutely no understanding of depositional environments. These are conventional channel deposits they are targetting, not ubiqitious shale fields in west Texas. "And in and of themselves

[SportyJ]

Gotcha. Is the North Corentyne Appraisal Plan approved by the government of guyana (as referenced in today's PR)  public info?  That would be a really interesting read. Anybody here able to post contents or provide a link?

[Frank007]

My 2 cents....for what it's worth ....money has already been committed for this well ....once complete the appaisal sets in...smart ...compession of the port project 2023..... feild development  or farm in depending on oil prices ...either way  Frontera wins .....

[Mat1791]

worth about, ...2 cents If well is a bust, FEC may be worth $5-$7, CGX pennies to $1, everyone knows that. If well goes good, both worth a lot more, everyone knows that. So, CGX will be house rich but cash poor, balance sheet will look much better, just not liquid.  Assets are assets. And if they find what they think, liquidity won't be an issue, FEC's leverage will be diminished

[Frank007]

You foget one thing ...cgx can not make any ..that's any deal without frontiers consent ......now how's that for control.   

[AnMar]

I'm a retired Operations Research (OR) Software Engineer, who once aspired to become a Petroleum Engineer, but lost interest after oil prices tanked. I started on a TRS 80 from Radio Shack. (boyjurko - you might be interested in the field of OR, checkout linear programming (LP)). I hold a little over 70,000 shares of FEC  which is a small holding for me (speculation money). This may be a

[waitingstill]

AnMar - you are an idiot and have always been. Go back to you "winner" at Eco and cry with your friends there. The only way you are making money with FEC is on CGX's back like it or not. As if we should trust anything you say after your Eco pumping of the past. Hit the road idiot.

[stark15]

VERY WELL PUT WS!!   an mar has ZERO cgx shares....what does that tell you all?  Frank, who speaks in gibberish has ZERO cgx shares (unless he is lying, AGAIN), what does that tell you all. an mar even says he couldnt cut it as a petro engineer, lol!!  lost on EOG and now knows he backed the wrong horse taking fec over cgx.... these 2 idiots r on this board, why, because NO

[Frank007]

I have cgx shares bafoon

[Coloradobuff]

I'm here for the comedy ;). Also, to celebrate when cgx hits oil! But in the meantime...the comedy 

[jada13]

lol Just sit back and watch when say they hit hydro carbons.BOOOOOM

[AnMar]

Me too! There should be lots of it over the next 4 - 5 months - enjoy! My ignore list grows; Congratulations goes out to (drumroll....):  Kelvin, you and all your other personas have made it onto my list; btw Kelvin, I never had to write out or read equations (well maybe a few), imagine writing out equations for models representing hundreds of thousand of constraints & variables

[Mat1791]

Happy to be on your special list... Rememeber, you swung first. Not sure what was misleading about the insider information?? During drill, all insiders will be in lock down, as you can see by the last few days, I believe any swings will be amplified for CXG which is the less liquid ticker. IMO that may allow for some of my valuation assumptions to get priced into CGX before FEC. Perhpas ride

[AnMar]

Happy to be on your special list...   haha, you're not getting off so easy. Rememeber, you swung first.         Maybe you should re-read your work. Not sure what was misleading about the insider information??  Your wording implied that CGX had a much greater insider interest than FEC, meaning, skin-in-the-game, which is not the case.  What

[Mat1791]

Ann, From my original post, "Third, how the potential materializes and how quickly those potentials and speculated potentials get baked in may come down to tradable liquidity.   CGX = 77% insiders FEC = 38% insiders" Your post "The only insiders that really matter are management; FEC, Catalyst, Gramercy, they don't count." All the above are insiders and

[ljmorin]

LOL, Anytime your ready, pull the trigge? I really could care less about your uneducated opinion on anything actually. You SC. See ya later an mary. Ive got you blocked now anyway.  GLTA.

[Mat1791]

LOL! yep, you got me...wow,  By the way what's with the cut and paste post?   If you actually had any original thoughts, a true understanding, or really did these calculations for all the stocks you buy, you could have just used you own words?   Looks a lot like someone trying to be smart...eh.   Reminds me of a quote "Can't figure it out: do you want to be

[whyworry]

Well one thing seems obvious Westcanpride. The position you built while bashing the stock and hurling insults at management sub $1, you have liquidated as the stock climbed in anticipation of spud. Your positivity was noted by the board as you sold.  Now, you write: "Kawa, as a seperate field, is not volumetrically (and thus economically) large enough to warrant its own appraisal wells.

[westcanpride]

" Zoback said that the drill was a success and they found everything they hoped for and more" - CGX giving up an ~35% working interest in Corentyne (based on the results of Kawa-1) so that they could pay their costs of Wei-1 is considered a business success? Man, the standards are incredibly low. No wonder CGX flounders well below a $1B market cap.  - Sure, from a technical

[whyworry]

Westcanpride,  I challenged the post in which you lied.  Your response was to rant and pivot quite professionally, but it doesn't change the fact that you lied.  Moving on, your suggestions that DeAlba and CGX management have fallen short because big oil has not partnered is naive.   I doubt that DeAlba's first choice is an Apach/Total type deal.   A