Just prolonging the inevitable. Obviously they are selling down in hope they might discover something but nobody really believes they will after all failures they've had. Hence why Santos got out in 2009 and nobody else wants to farm in with them.
In my opinion the area has been over mined and CIG will eventually go bankrupt, unless they get really lucky. Might as well buy a lotto ticket. CIG is a waste of money as far as I can tell but has a one in a million chance of getting lucky.
Certainly not investment grade.
Just prolonging the inevitable. Obviously they are selling down...
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