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 Atonon Nov 05, 2019 4:25am

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Post# 30308667

RE:RE:CGX invites bids for Crab Island port works

In 2010, CGX secured a 50year land lease from the Government of Guyana for a 22 hectare plot with 600 meters of frontage property at the mouth of the Berbice River.

Take a look at the flyer:

https://cgxenergy.ca/cmsAssets/docs/pdf/Port%20Project%20Flyer_v1.pdf

It will be interesting to see a new updated valuation of this 50-year lease from an investor bank, It looks like a uniq location in Guyana and perfect timing now when the economy is projected to go thou the roof in the coming years.

Is this lease worth more than the total market value of CGX? Time will tell.. exciting times.

Significant opportunity for CGX and its partner(s) due to a number of factors:

Port of Georgetown (PoG) is congested and lacks the ability to expand
PoG is unable to accommodate large cargo ships due to low maximum draft
Trinidad ports are 450 miles from offshore exploration area in the GuyanaSuriname Basin

• Inconvenient, costly 2 1⁄2 day transit each way