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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

Energy Oil & Gas E&P
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

CGX Energy Inc
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Comment by shleevoon Jan 26, 2010 1:21pm
309 Views
Post# 16720114

RE: RE: Selloff continues

RE: RE: Selloff continuesThat's correct.  There's no selloff.  TD did two cross trades, one at 65,300 and a second for 262,200.  If  anyone were to dump that many shares at market, we'd be trading at well under a dollar right now.  

The market in general is putting pressure on CGX sp.  With no news expected for a while, but we will see a catalyst in due time.  The longs are holding/accumulating, the day traders are flipping for pennies, the nervous nellies are selling and some bigger players are making adjustments to their trading accounts/portfolios, prob in anticipation of big news in the next couple months.

I don't see anything to worry about at this time except for the markets in general, and I sure wouldn't want to be on the sidelines when news is released.  Sticking to my conservative prediction of $2 when jv is announced.

GLTA
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Dealroom for high-potential pre-IPO opportunities
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