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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. 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

Bullboard Posts
Comment by docsdrillers1on Jul 19, 2012 3:37pm
352 Views
Post# 20132386

Great info But where do we go from here?

Great info But where do we go from here?

Thanks for clarifying how info in the oil field holds strategic value and what might or might not be shared.

I guess as a street investor who is trying to decide whether i should add to my position at these attractive levels all information like yours is helpful.

I've been here from the beginning...so what's another year or two.

I think my concern like others is how CGX plans on fulfilling their grandiose plans with little or no money,a weak bargaining position for future JV's and PRE hanging over us ready to pounce on weakness to acquire most of this company.

Also we need guyana to grant us an extension so that Jag 2 can be drilled based on what the operators learned from Jag 1.

With drilling certainly at least 9 months to a year away what will sustain the current stock price or better yet get it going north of here....

I think the tell tale sign to me at least of a hopeful future lies in the hands of Tullow or Repsol...If they JV with us on ED or Jag 2 then we know that they are psyched by what they found or learned from Jag 1.....However if they pass on a JV then i'm not sure where we go from here.

Bullboard Posts