CGX Energy Inc V.OYL

Playing it safer

[fishfanactic]

Owning frontera which owns 3.25 shares of cgx per share of frontera is the better value even if cgx and Frontera come up snake eyes frontera has 167 Mil barrels of reserves producing 42K  barrels a day.. Besides it's 40 percent  below it's intrinsic value. To each their own..Good luck to all

[stark15]

WRONG....CGX is the better play.....only someone who has not been around here awhile makes that statement. The boat anchor that is Columbia is around fec, not cgx.....cgx has zero debt and a free drill and i have not even mention the port that will bring in millions.....

[ljmorin]

Certainly to each there own and tolerance. CGX for sure has much more bagger potential.  GLTA,

[pdevries]

Frontera has owns 68% stake in Corentyne block and owns 80% of CGX. CGX lacks the financial resources needed to hold onto to its 32% minority stake in Corentyne block if Wei well finds significant oil.  CGX has only $10m in cash.  Furthermore, CGX also has $52m in convertible debt and 16m options outstanding at very low strike prices.  Even if Wei well uncovers a significant

[ljmorin]

Frontera also does NOT have the capital to develop this  acreage either. It will need to get farmed out either way. 

[Investnowplease]

Been a while for me since posting. I made a post as the last well was being drilled and will say it again. There is no way either company can fund a development. They would have to sell it to a major. With that said there is value in that. This is a multi B development type play that only majors can play.