I think the big variable one has to consider is the the impact of timing on any JVP. If we are looking at a JVP for the exploratory wells after the drilling of Eagle and Jaguar, the results of these wells will have such a huge impact on the CGX negotiating position.

Dry wells will naturally slow the interest and momentum of market forces and force a situation where a new partner will have higher demands and conditions.

Successful results on one or both wells will have JVPartners running to CGX for involvement on future wells, at very attractive terms. The results over the next few months will dictate the terms of any JVP.

The question is not "is there oil in the basin", but rather "how much, and who will hit first". A oil find at Eagle or Jaguar will put CGX in the drivers seat of negotiating a very favorable terms for the company and investors.

In recent memory, I cannot remember a similiar situation where a smaller company was involved in such high profile and potential impact on stock price (a company such as Shell driling such an exploratory well would have its share price only minimally impacted by such an adventure, given its size).

CGX investors have an extraordinary ride ahead over the next months, and from what I read about Guyana, the entire country from the President on down is awaiting every news release, that will change the country's future to a huge oil producer.

No pressure here !