Seven Year Blockade Lifted from “Gunboat Basin”

By Travis Johnson, Stock Gumshoe, December 10, 2007

Once again, Streetsifter has scooped the Gumshoe and written up another one for you, this one on a way to “profit from Exxon’s misfortune” and “turn $4 into $45” — just when the Gumshoe runs short on time, our friend Streetsifter seems to pull a great nicely-summarized sleuth job out of his hat for all of you. The following are mostly his words, with a few edits and minor additions:

The latest teaser ad for Christian DeHaemer’s Crisis Trader has all the necessary elements for a Hollywood action film, to the point where the copy writer must have been licking their literary chops as they composed the ad.

You can imagine the Hollywood agent giving the pitch to the A list movie producer. “The picture opens with this drill crew for a small Canadian energy company trying to commence operations of the coast of South America under grants from Undisclosed South American Country “A”, when suddenly gunboats from neighboring Undisclosed South American Country “B” show up in the middle of the night and force the drillers to evacuate, claiming the site falls within their territorial borders!” Then Country B tows the drill rig from the disputed waters. The two countries amass their military forces along their land border (but they’re small countries, so there’s not many forces to amass), and our offshore drilling crew is prevented from performing any work at ‘Gunboat Basin’, where an estimated $1.35 trillion in oil and gas lies beneath the ocean floor!”

Our imaginary Hollywood agent’s voice becomes more animated, and the producer listens intently as the pitch continues. “So now we segue seven years into the future, and the two countries have finally agreed to turn the dispute over to the United Nations international court. The fate of our Canadian energy company hangs in the balance as the court announces their unanimous decision. And the winner is . . Country A! The energy company now has rights to proceed with offshore drilling operations, and the major oil companies are likely to start a bidding war that will propel the tiny company’s stock, currently selling under $4 per share, up to as much as $45 dollars per share or more!”

And your price of admission for Mr. DeHaemer’s action packed “Gunboat Basin” adventure is a “special rate” subscription fee of $1,750, instead of the usual $5,000 fee. But, if you’re a regular Gumshoe reader, you already know that we can arrange a special pass to this feature at a far more reasonable rate.

Working off tips provided on the Stock Gumshoe Forum by Womanwithportfolio and by paid-up Gumshoe Irregular, Streetsifter, the Thinkolater comes up with:

CGX Energy (CGXEF: OTC or OYL.U on the TSX)

A press release from the CGX Energy website fills in the blanks from the teaser, stating, “the International Tribunal on the Law of the Sea (ITLOS) award on the maritime boundary dispute between Guyana and Suriname was released at 4:0 pm EST September 20, 2007.” The press release continues, “The decision is extremely positive for CGX, as it concludes that 93% of CGX’s Corentyne Licence and 100% of our Georgetown Licence are in Guyana territory” and it also provides confirmation of the gunboat incident, “In June 2000, a jack-up drilling rig leased by CGX from an American drilling contractor and operating under licence from the Government of Guyana was forced off its Eagle drilling location by gunboats from the Surinamese navy.”