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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

CGX Energy Inc. is a Canada-based oil and gas exploration company. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

Bullboard Posts
Comment by shleevoon Dec 08, 2009 8:37pm
325 Views
Post# 16566946

RE: RE: News, data room open!

RE: RE: News, data room open!It's very good news.  Things are moving along as planned.  There's been a lot of speculation and I would just leave it at that.  I wonder if the data from Rock Solid has been completed as there was no mention of that in the press release.  Perhaps all this information is being witheld until the data room is closed and a JV partner is found as was the case the last time the data room was opened.

Don't worry about production at this stage folks, let's focus on the task at hand, finding oil.  There are many more companies that are searching for oil offshore Guyana and if any are successful, they will have all the same challenges of bringing oil to production.  There's a thousand different scenarios that could play out and we still don't know if we have a JV or the terms that will be finalized. 

GLTA

Bullboard Posts

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