CGX doesn't really need to do a financing at this point, by drilling Eagle they have fullfilled their obligation for 2012 as per the PPL for Corentyne (unless I'm missing something).

They could sit back and roll the dice on Eagle being a winner and if not wait out Jaguar and see what happens there. If either are succesfull they could do a PP at a much higher price 5.00 + IMO.

Since CGX suggested in their December Company Presentation that they intend to spud up to 4 wells this year, and had the new 3D siesmic just completed, I still believe that a JV is in the works if not already in place to fund the other 2 wells.

I don't know what the plan is, just offering another possible scenario, one thing I do know is that if Inpex releases positive results from their spud it would be a game changer for CGX and the shareholder's.