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.

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CGX Energy Inc

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Post by OIL_RUNon Aug 19, 2015 2:56am

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Post# 24030490

2Q-2015: PACIFIC EXPLORATION PRESENTATION

Some highlights from the most recent Pacific Exploration (Rubiales) presentation:

1. PRE has ~ $724M of cash on hand (slide 21).

2. PRE expects to increase its cash balance further by $850M to $950M (by divesting their 64% interest in Pacific Midstream and other infrastructure assets). Cash proceeds will go to pay down debt...(slide 21).

3. Overview of their debt profile can be seen on slide 15.

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How a junior advances one of the largest undeveloped diamond projects