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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 27, 2019 8:28pm
202 Views
Post# 30172915

Management criticism is easy, being in management of a

Management criticism is easy, being in management of ajuniior is very difficult

To All on this board.

I also have been involved here since 2004 or so. Making comments about what some junior company manager should or should not do is fair game  In fact I have done the same with this management directly. However, an investor has to realize, these are not real businesses with cashflow and products to sell. This is high risk and very difficult to try and keep together. At this stage, after all the issues, I'm very happy they are still alive and now in a good place.Is it perfect, of course not, but few of these exploration comanies is perfect. My knoweldege comes from years of investing in juniors and being critical of management.Now it is easy to sit at your desk with a computer and give your opinion which for the most part you have little realization of what is going on behind the scenes. As I personally became involve in a junior company over ten years ago, I've learned, a lot of luck goes into success. However, starting in a world class area, really helps. EXXON's discovery derisked this deal if they could survive. With a parent company invested up to their eyeballs, it has allowed CGX to exist. Now, to me, forget the day to day about what is going on. There could be more dealing with shareholders but I find the companies that do a ton of that, are the ones who have zip. CGX is  a small company with a land position in a world class oil basin. This takes time to play out. With Frontera owning about 75%, they call the shots and will guide the company to what maximizes their return. They need it, we need it. I'm not sure there are many positions larger than mine in this company. I appreciate all the positive comments and information. CGX shareholder base is small in my estimation and being shaken out of a 20-40 bagger stock is not wise. Yes sell some on the way up to get cash, just in case but have patience now, this is going to be fun. My two cents for what free comment is today. GLTA, and I'm not involved in any way with this company within arms length at this stage. 
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