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CGX Energy Inc CGXEF


Primary Symbol: V.OYL

CGX Energy Inc. is a Canada-based oil and gas exploration company. The Company is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in the Berbice, Guyana. The Company holds interests in three petrol prospecting licenses, such as Corentyne, Berbice, and Demerara Blocks in the Guyana Basin. The Company has drilled two operated exploration wells on its offshore Corentyne Block and drilled three more exploration wells on its onshore Berbice Block. In addition, it has acquired and processed over 7,000 square kilometers of three-dimensional (3D) seismic data on its offshore licenses. The Company through its wholly owned subsidiary, Grand Canal Industrial Estates Inc. The Company is engaged in the development of the Berbice Deep Water Port in Region 6, Guyana. Its other subsidiaries include CGX Resources Inc., ON Energy Inc., and others.


TSXV:OYL - Post by User

Post by Dell1on May 27, 2024 4:23pm
137 Views
Post# 36059356

Tough sale!

Tough sale!

It appears to be a very hard job to attract new JV partners into our block with the current results. I am sure many companies have already taken a look at our data room and they were not as excited as they should be. I am still holding my position and only hoping that something will be finalized, considering that an extension to the current lease is required in June this year. It would be interesting to see if Frontera management is going to come up with something at the last minute. We could speculate that there are some potential JV partners who are waiting and are tough negotiators, and would like to propose something at the last minute. Unfortunately, with the current market trend and no particular leads, we might end up below 20 cents very soon.

You are welcome to continue the conversation, but that's all I can say at this point.

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