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 21, 2019 9:59pm

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Post# 30053156

BERENBERG - ORINDUIK VALUATION

This was before Berenberg raised it price target on tullow from 240p to 250p. See link: https://uat.webfg.com/news/broker-recommendations/berenberg-ups-tullow-oil-to-buy-after-guyana-discovery--6927684.html

Berenberg states: the de-risking of future exploration potential in the Orinduik block may allow Tullow to monetize part of its 60% stake in the block, which would susequently address it’s balance sheet problems once and for all... we estimate that selling half of its stake could raise circa $1B (USD), a substantial amount relative to its net debt of $2.9B (USD).

Quick math - that’s an overall valuation of Orinduik of USD $3.3B. Anyone on this board want to speculate what the valuations are for the Corentyne and Demerara Licenses?

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