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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

Comment by westcanprideon Oct 05, 2020 12:50pm
103 Views
Post# 31667246

RE:RE:RE:CALM & PATIENCE

RE:RE:RE:CALM & PATIENCEIt is a excellent point and something that should never be forgotten. Curiously, do you (or anyone) know how much money CGX spent in supporting the Guyana government in this dispute? Lord knows that this goodwill (and cash) did allow for offshore licenses to be awarded (and renewed) over these years when they should never have. 

Perhaps as a final gesture of goodwill, maybe the new PPP government could offer CGX/Frontera the money needed to drill a couple wells in Corentyne in exchange for 10-20% of the land? I know I wrote about the merits of this idea 2-3 weeks ago, but in light of your excellent argument surrounding the border dispute, the Guyana government would be well served to perhaps do something of this nature. Lord does know that none of the major superpowers offered support, nor should they (shareholders would never allow such blatant support for no immediate economic return). However, CGX is a different beast all together and without them, Guyana would look very different today. 

Guess it is easy to look forward and act greedy. But to forget the past is dangerous as well and lord knows without oil, Guyana would be a forgotten country. Today's PPP government hopefully will not forget this time, even if it is over a decade ago (which in the grand scheme of things is nothing). 


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