No dont think for a moment that they will abandon their existing turf.
I do not know how much cash they have paid. Nexus Energy has pulled out purely due to their commitments with their Longtom and Crux projects. Nexus has clearly stated in their quarterly that all new explorations are on hold until they sucsessfully completed a farm out deal for their crux oil field.
I have shares in NXS and the last six months have been even worst than my portfolio with CIG.
Keep also in mind that CIG is operating their own oil rig. This makes them the most likely candidate as an operator of the JV if the bidding in Romania is successful.
Will we find fresh blood on the menu next? :-)
Good luck to all SH: KM
CIG Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
