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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
Post by catkinon Oct 22, 2017 2:43pm
210 Views
Post# 26842342

CGX favour

CGX favourLets not forget that CGX did the Gyanese people a massive favour when they funded the the territorial despute with Suraname! CGX has been smart when it comes to keeping in favour via all the small projects and donations that they have made over the past.
No matter which political party you are in, this counts a lot!
We also do not know what Guyana agreed to pay CGX for them to come up with the funding. They had no money, obviously, and off-shore oil rights may have been the obvious pay-back.  If I was running CGX at that time I would have written into the contract the guaranteed ownership of all CGX's off-shore rights. I cirtainly cannot believe that CGX just did it on a goodwill basis. Knowbody that I know would give away over $8M for no guarantee! ON Energy is also in the background.
Bullboard Posts