I thought we might have had an takeout offer put forward but instead we got a JV Partner instead. This has to be voted on but once shareholder's digest this news most will agree that this is a pretty good deal in the long run.

Cash flow problems are solved, with Pac Rub holding over 40% of the shares and deep pockets CGX won't get taken out cheap, new directors on board from Pac Rub, and we now have a JVP that will cover 50% of future exploration costs (wells) on Corentyne PPL & Corentyne Annex PPL (which border both sides of the Georgetown PPL, Jaguar well, hint, hint). CGX still maintains 66% of these licenses.

When Pac Rub exercise their warrants that should put about 25 mil in the bank.

All in all Pac Rub is taking control of CGX but leaving the company in place so I think we're in much better shape today than we were yesterday. JMO.