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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Comment by OIL_RUNon Aug 25, 2019 10:48am

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Post# 30063561

RE:RE:RE:CNOOC

This sounds familiar (history repeats itself) given CNOOC and Exxon bids to purchase Kosmos Energy’s 23.5% in the Jubilee field offshore Ghana. Actually, CNOOC’s final bid was closer to $5B...

Note, at this time Oil was trading around $100 - questions surrounding Kosmos’s ability to fund their proportion of field development costs. Ultimately, Kosmos kept their stake in the assets and was eventually able to secure loans (RBLs) to develop the field.

https://www.businessinsider.com/chinas-cnooc-in-bidding-war-with-exxon-for-huge-ghana-oil-field-2009-10

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