CGX Energy Inc V.OYL

One last blurb ….

[Frank007]

Done with this blog site ..if as she drill stared .and its still pie in the sky .but here goes my math if corentyne is a billion barrel as Shedrill stated @ 5 per reserve base thats Well $5 billion bucks 80% is Frontera ..20% approximately cgx ..now do the math .$4,000,000,000 divided by 85,400,000 Frontera shares is $46.83 per share.Cgx .$1,000,000,000 divided by .287,600,000 Equals $3.47 ..why would you invest in cgx Shedrill do you not have a calculator ?

[Strawboss1]

Thats a great idea, does that include all of your aliases too. ?

[Duderrr]

Lolll do you really think that's how it works? I agree with you, but based on your thought process the math is off. Using the current WIs and your shares which I think might be off... FEC: 5B*.68WI + (0.8*0.32WI*5B) / 85,400,000 = 54.80 OYL: 5B*.32WI / 287,600,000 = 5.56

[Harel1976]

Reality check,  Cgx dont and never will have 1b barrels of reserves! Fair value for a barrel in the ground for a consortium who cant afford to move forward is between zero to 2-3$. Best case scenario for cgx which seems imaginary is lab results come good and fec announce half a billion of reserves  before appraisals.  Taking 2$ a barrel gives you more or less the current value

[Harel1976]

Fec paid for corentyne hundreds of million$, eco just paid for a much better block- oriduik 700,000$ for 60%. World class partners, cheap wells, great prospects and heavy oil proven in the teriatery layers.. Why burn your money when you can by bottoms at better companies with no debt and better assets and cash rich??

[Kelvin]

Iranian heavy and Arabian heavy fetching a higher price per barrel now than Brent or wti. In very high demand in Asia. Arabian heavy went over $87 per barrel this past week. Lots of asphalt, diesel, kerosene in heavy oil. Even sour heavy is fetching high prices. But not Western Canadian Select (wcs). There's about a $20 per barrel discount on it because of transportation costs out of

[Harel1976]

For now i value these reserves at zero, more interesging is fangtouth deep discoveries and the hub exxon is building right next to orinduik.  The big upside their is the farm out with africa oil that was agreed before the steal, now waiting for approval to move on.. 

[Kelvin]

The wells will be much faster and less costly to drill and complete. What are they going to do? Buy diluent from Exxon to produce it like they pump condensate to produce the Orinoco heavy oil belt in Venezuela? I read that you can lease out smaller capacity FPSOs or convert oil tankers into FPSOs. Get it online making money a lot faster and cheaper. Yeah, there's no telling what's

[waitingstill]

Harel - go ply your ECO fantasies on their board and stop wasting our time. Tullow left and sold it back for a song becuase it is high risk and currently worthless. Thus they left. What is it about a company leaving a block that has two supposed discoveries that you don't understand? If there was any value, they would still be there. 

[ljmorin]

Yes, Both were Heavy Oil, High Sulpher.