Very interesting posts, i do agree with most it that the management has let us down in the interim. However CIg was always flogged off as becoming a major producer of oil with the help of big brother santos which should hopefully occur next year.
I am only holding and waiting to failure or success that occurs with the Santos JV we all knew this would be the case its just taken so long that we have been blinded with rubbish ann to fill in the time.
Santos Commit to deep drilling then the price will rise too many people will try and access the potential at such a cheap price that its worth holding and gambling on!!!
Santos need to drill large deep holes, they need a rig and guess who will lease it to them CASPIAN. So aswell as earning a potential 20% free carry CIG will earn $$$$$$ for every drilling campaign they do.
Think about it for a second the seismic interpratation so far has too many listed potential leeds that santos cannot turn their backs on after committing so much cash to to get to this stage, if it wasnt promising WHY would SANTOS ask for an EXTENSION to fully see all the results?
CIG will pull a rabbit out of the hat by years end and we will all be talking them up again and reminding us that they sold PRU shares so cheap it kills me as much as everyone in here but the reality is the real future is in fact coming up in the future and not what has happened in the past.
Santos dont commit and sell their holding or whatever simple sell and move on i have averaged down my holding like most would have so the risk to reward is far too great to ignore
gl all dyor
CIG Price at posting:
15.0¢ Sentiment: ST Buy Disclosure: Held
