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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
Post by pathfinder8on Sep 16, 2013 5:27pm
393 Views
Post# 21743980

The possibility of PRE taking out minority shareholders

The possibility of PRE taking out minority shareholdersI see some chatter of the above possibility.  Under Canadian Corporation law, a company that owns 90% of the outstanding stock , may force a buyout of the remaining holders.  In PRE's case, it would be hard to argue that they paid out 2.90 per share for their stock, but were now going to buy out the minority on a fair bid basis of some crazy low price.  Joe is right, they did not put money in here because they want to lose.  The minority shareholders have rights under the law and i'm not sure PRE will want to do anything except make their 70 plus per cent worth a lot of money.  The minority shareholders who go along for the ride, will eventually be taken out probably, but years down the road after a major discovery when everybody is happy happy HAPPY.  Who is selling the stock here is a mystery, but there are so many penny players in the market trying to make ten dollars a day, it is probably some of the same guys who bought at 90 cents to a buck, throwing in the towel.  This board is full of guys and gals way beyond that game I believe.  I surprisingly just opened my mail and found I purchased another 20K the other day at .53, amazing.  That is 5 cents for something the market was willing to pay 1.40 for 15 months ago.  I know , CGX lost some claims but who knows, maybe they end up in a JV with Tullow and Repsol for those claims.  Keep the faith, this will be great in due course.
Bullboard Posts

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