They are going to fill any bid at $1.20 right now. Until the financing deal is officially announced we are going nowhere. It will probably be a bought deal like the last time and probably somewhere between $1.10 and $1.20

I think the money will be used for drilling on another block or 2, which CGX has 100% control. Use the Saratogo while it is in the area. I highly doubt that they will go after Eagle Deep just after Eagle Shallow as some have suggested. I think they will want to take their time and study real HARD what they found in ES before they move on to EDeep.

Do they take the chance and do a financing after ES? What if it is a duster, then the SP drops and you have to do financing at a higher dilution ratio. Bit of a crpshoot, and unfortunately that is the game we are in on this play. I'm sure we will know soon enough and if you want to add to your position, now is a good time, I'm sure you will get filled at $1.20

Skier