CGX Energy INC. a blockbuster stock? Message Board

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Gold/Mining/Energy : CGX Energy INC. a blockbuster stock?

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To: ms.smartest.person who wrote (584)	10/5/2007 8:33:23 PM
From: architect*	Read Replies (2) of 591

CGX Energy has quite a story. Does anyone know if CGX has the expertise or finances to drill off-shore for deep oil? As an example Bordeux Energy, Verenex and Vermilion Energy drilled Ocra-1 in the Aquitaine Maritime off-shore in France. The Ocra wildcat well cost $54 million and was a dry hole, although petrogeology reports indicate billions of bbls of oil in the basin. Bordeaux the micro-cap, funded the first $34 million of the costs, and didn't fair so well, as all their money was invested in the Ocra well. Vermilion the major did fine and will, no doubt, go back in the future to explore the Aquitaine. I've heard 1 - 10 odds of hitting a wildcat well off-shore, for this reason, these type of structures are often developed by major oil companies. I'd guess a joint venture is required here, just to get the first rig in-place. No position, just looking!

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