|
|
|
|
||
NR: water, no oil; cost overrun, financing neededCGX Provides Results of Eagle-1 Well Offshore Guyana ... both logs identified the presence of good quality sandstone reservoirs that unfortunately proved to be water bearing. ... initial cost estimate for the Eagle-1 well was $55 million, however with the delays the Eagle-1 well is now estimated to cost $71 million. As a result, the Company will need to raise approximately $20 million in the near term. http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=51049081&cp=off&webmasterId=101020 Expect the share price fall off a cliff tomorrow. |
return to message board, top of board |