CGX Energy Inc V.OYL

Compare …sei ….cgx …

[Frank007]

Both are sitting on a nice discovery about the same if you can include the campanian and santonian seserves ...any wha ...sei ...372.2 milion shares out for a 10% interest in the consession ......Cgx ...has 287.6 milion shares out for 23% of the consession .....nice jump in the shares of sei .....but I will stick to what I know .......cgx frontera ...

[Zibo510]

Frank I don't know how you could say that SEI and CGX are comparable.  CGX  may have 600m barrels, but they are prospective, unproven, without having the wells flow tested. SEI on the other hand have a 10% interest in a well that has been flow tested and appear to have discovered an estimated 10 billion or possibly more barrels.  SEI would have based on 10% 1 billion barrels

[soulfire]

They more than likely have better management than CGX LOL

[Zibo510]

And they have at least 22m in the bank 

[Harel1976]

Sei has 5% of the discovery not 10%. The nei conference starts today and galp will probsbly reveal the recovery factor, should be 3-4 billion recoverable before more wells will test the complex, its the biggest didcovery offshore in centuries, double ghen the giant venus. Sei has no debt 23m$ cash, is carried all throught explorstion and appraisal and development and is trading at third of its

[Kelvin]

Hey Harel, Do you have any idea on when anything offshore Suriname will be FID'd? Seems to me that in these offshore projects that take years before first oil, that if oil cannot be produced at less than $35 USD per barrel break even, royalties included, then operators could be sitting on billions of barrels of recoverable reserves that nobody is interested in. 

[Harel1976]

Fid is expected by year end in block 58.