CGX Energy Inc V.OYL

"Commercial" "Shows" and Insane PR Statements

[SheDrills]

First and foremost....they should have NEVER used the word "Commercial" in a PR after only drilling 1.5 wells in a lease this size.  It takes way more than 2 wells to confirm the volumes that determine commericallity in these fields.  Just ask Exxon and Total. Not a single field in the basin was FID (crossed the commercial threshold w/ so few wells)

Secondly...they gave the market conflicted statements in their last PR when they said "Shows". The word "show" is associated w/ non-commerical volumes in the OIl & Gas world. HOWEVER the following statement "Results from the Well are consistent with pre-drill expectations. The Well has confirmed the Company’s geologic and geophysical assessment of the block." indicate they have found one or more LARGE hydrocarbon accumulations. Because you don't drill $100-200MM wells w/ the hopes of shows, you drill to find LARGE hydrocarbon accumulations.

Irregardless of which way the wireline results lean...they need to have someone else writing their PRs....because the current author has placed the companies in the cross hairs of a legal battle from shareholders if they don't deliver.

Personally, I'm so glad this journey is about to end.  It's very hard to deal w/ the unprofessional behavior regarding shareholder communications and maintain one's sanity.

[westcanpride]

This is what happens, SheDrills, when you have management composed of idiots. I guarantee you guys like Suresh and De Alba read these press releases internally before they are submitted to the various exchanges. The fact this kind of sloppy language is released speaks volumes to the block heads we have running the show. Guaranteed they probably don't even know the difference between the

[SheDrills]

IMO it's Suresh Narine who is the author. SR does not understand Oil & Gas and he should not be writing any PRs.  The best presentations from the company are from their technical teams.  Anytime Narine speaks it's just fluff and grandstanding which confuse investors..SR can't speak in depth to oil & gas and port construction because he has no skill there. 

[westcanpride]

No disagreement there. Suresh is only around because of his nationality and connection to the government... and that has been of benefit for many years. But he certainly adds 0% value to anything business or technical.  However... who is editing these press releases and providing "recommendations"? Where is De Alba? Where is anyone with O&G experience that can help relay the

[SheDrills]

The only thing potential suitors care about is the size and value of their liquids.  If Wei-1 is a significant oil discovery the potential suitors will do the rest.  I'm HODL like all the longs here...I'm just exhausted by having to inprepret, discuss & explain conficting statements at this stage in the game.  The last 2 well related PRs will be worthy of investor

[Kelvin]

Yeah Shedrills and my friend from Alberta agrees 100% with you. He also figures that the names mentioned by OCM came out of retitement cause he says that there's not many deepwater company man jobs available these days to train younger staff. This play is one of the few on the planet. The only one with this much potential. Why they don't promote it confuses a lot of us.

[zerbo]

well right now there is insane volumen on OTC

[SheDrills]

Insane volume isn't less than a million changing hands.  That next PR should bring insane volume...good or bad.  I will say this hole data has been kept extrememly tight to be at this stage in the well and not to have more FOMO or selloff means few know good or bad.

[waitingstill]

I agree with this SheDrills. But consider this. CGX has been consistemt in downplaying what they have and super conservative with their wording so as not to hint at success when not there. I do not recall them using "commercial" in previous NRs. In fact their down playing of Kawa destroyed any value to SH because we all know it was drilled on the edge and that there is still value in

[SheDrills]

This statement is the opposite of downplaying: "Results from the Well are consistent with pre-drill expectations. The Well has confirmed the Company’s geologic and geophysical assessment of the block." indicate Wei-1 has found one or more LARGE hydrocarbon accumulations. The only conclusion is that they want to confuse everyone and continue to destroy confidence...or the author is

[waitingstill]

That is exactlY what i said. All previous NRs including Kawa were negative because they are cautious to a fault. NOW they have issued a positive one that could put them on the hook. IMO, they would ONLY do that if they already KNEW that they have a discovery. Or else they would revert to their usual obfuscation.

[SportyJ]

So the sp doesn't move up exponentially and we're going to parse the NRs?  Lol. I'm sitting in my "chair",  "knowing what I own" and being patient.  To all the Dads, have a great Fathers Day!  All imo