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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 May 18, 2012 2:58pm
353 Views
Post# 19926719

RE: Today's news was no accident

RE: Today's news was no accident

Funny how you say Steve and his appointments were demoted to make room for star players.  The way I see it, the Star Players have left the company.  Now we're left with the old board that can't get anything done.  In 12 months, Steve accomplished what this board couldn't accomplish in 5 years.  I'm not happy Steve left.  The NR praised Steve for his work over the past year and let him go due to his "strong personality".  I think this board needed a strong personality to get the job done.  Without Steve who knows where CGX would be now. 

Now we're back to the old board that sits on their hands for years waiting for a miracle to happen.  How long did we hear they were contracting a rig?  geting a joint venture?  It was at least 4 years.  Nothing every materialized and it wasn't until Steve was brought on board that things started to move.  That's what I call a Star Player and clearly Sully agrees with me, hence why he stepped aside and now shopping for a new CEO.  I understand after many years of running this company it's hard to just hand it over to someone else and let them make the decisions.  Tough decisions to make and I don't think this board has the cahunas to make them. 

If we only knew what plans Steve had on the table.  You may all be very unhappy to find out the truth about what really happend in that boardroom.  I anxiously await for the next move. 

Bullboard Posts

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