Great news Guys;

Government of Guyana would not have renewed this lisence for up to 10 years due to the fact that CGX is broke and has no financial ability to drill any wells on their own.

I believe that PRE and one or two other majors have struck a deal with CGX to carry them for 2 wells and the cost of spudding Jag 2.

I think that CGX probably had letters of intent signed by PRE and the other Partner(s) committing to carrying CGX provided they obtained an extension on the Corentyne lisence suitable to the partners, and that CGX presented this as a gaurantee to the Government of Guyana to be able to obtain the extension.

As well the 5% of the GT PPL that CGX was going to sell to Repsol is of the table, which tells me that CGX knows now that they have the funds in place to cover the Jag 2 spud.

I expect a JVP(s) NR that will confirm the terms and partners and I think CGX will be giving up 75 to 80% of the Corentyne PPL in exchange for getting carried, as well I think they will receive cash out of this agreement that covers Jag 2 spud