sevo,the stock price has taken a kicking in the last 3 months,going from over $1.50 to its current price.They were looking for a JVP,but with the BP mess and other circumstances,no company was willing to sign on with CGX for what they were looking for.
CGX still has all of the drill prospects that could hold billions of barrels of oil,and they decided to go on thier own.Like most long term holders,I'm P-Od at what took place, but I'm still here, and, hoping for good times for successful drilling this fall with some JV partners, that they signed on with last year.They have a 25% holding ina very prospective area,and 100% of thier major holding that could be world class.
Check the CGX website for the full details. Hope this helps,cheers MF