Welcome To The CGX Energy Inc HUB On AGORACOM
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Message: Today`s Pescod Letter
CGX ENERGY (V-OYL) $1.05 +0.02
We caught up with
John Clarke, Vice President of CGX
Energy
as he in in Houston at a SCOUT meeting and he tells
us that it’s nice to be out of the north country and that it is
15 degrees plus and there are flowers in Houston!
SCOUT meetings are where some of the oil companies
get together and hear each others stories and try and get
an idea of what next in the world. Clarke says you definitely
do get an impression that most of the Houston-based
oil and gas guys think it is the center of the world and considering
that they think it’s the center of the world, it’s interesting
that many of them are definitely paying attention
to the Guyana basin area.
Many of the oil and gas companies there, knew about
the Tullow discovery in French Guyana, knew about the
new leases that were just given in Suriname and are starting
to follow the CGX story. CGX had given a small presentation.
But as to the news on CGX where nothing has happened
on time and some people have waited 13 or 14 years, would
you be surprised to see that there’s yet another delay?
Trouble with the jack-up rig getting those legs down and
now December 21st is the hoped for spud date of Jaguar.
Meanwhile, with the world in turmoil because of what’s
going on in Europe, Clarke (one of Canada’s top ranked oil
and gas analysts a few years ago) reminds us that he was
expecting oil prices to be lower than where they are. So
when we ask him what his crystal ball is suggesting for
down the road, he expects a rather bullish range of $90 to
$105.
He also suggests that what goes on in OPEC these days,
might be once again as important as what’s going on in
Europe. Again, Asia seems to be the source for new demand
and Europe and America less demand.
3 Recommendations
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