CGX Energy Inc V.OYL

FECs SIB and material news?

[westcanpride]

Starting Wednesday, Frontera's SIB begins and goes till October 17. Does anyone know if Frontera can legally release material news between now and then? Or are they pretty much under a news blackout? I honestly do not know. 

Frontera is at ~$8.2 cad ($675 million cad market cap) currently. They are offering to buy shares at $12 (4% of the outstanding stock) and thus suggesting their company is worth ~$1 billion cad. 

Without any new news, that's a hell of a jump in market cap. That be like Apple saying they feel their company is still undervalued and are willing to pay ~$100 more per share to buy back 4% of the company stock. 

End of day, this is likely good for CGX. Too improve the market cap, investors need clarity on Guyana. A likely sale or meaningful JV is needed to increase the value of Corentyne and thus Frontera's assets in that region.

[CPFStocks1]

Suspect CGX is going to drift sideways until October 17 unless something happens to the port. This will allow FEC and CGX more time not to have to make any comments to us shareholders.  I am also wondering where the extra value is coming from, it must be greater than $12 per share if they are willing to pay that much.

[jtdd]

The government cabinet is in recess and does not reconvene until some time in October.

[Caribman]

A deal just might be in the works here!

[Coloradobuff]

The share price is at .14. If a deal was in the works there would be a spike in share price.