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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. 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

CGX Energy Inc
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Post by catkinon Nov 29, 2012 11:59pm
574 Views
Post# 20664318

Repsol/YPF

Repsol/YPF

We all got a shock to-day when we read the press release related to CGX's Corentyne license as opposed to the Georgetown license.

However as I looked further into the situation I realized that the Georgetown concession license has not been renewed to-date due to one thing i.e.. YPF and it's nationalization problems associated to Argentina!

The Repsol./YPF situation related to the Guyana consortium in the Georgetown concession is having a serious affect in the renewal of the Georgetown PPL.

I do not feel that, currently the Guyanese government is comfortable with the situation.

I have attached article related to the nationalization of YPF.

https://www.stockhouse.com/natural-resources-news/2012/apr/18/be-very-afraid-in-argentina.aspx

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