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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 waitingstillon Nov 07, 2020 5:37am
200 Views
Post# 31856955

RE:Power of a Website?

RE:Power of a Website?Phantom - I think it is different this time. The govt seems serious. Previously they let things slide. But after Exxon's and Apache's hits, there is too much at stake for Guyana. They could sell those blocks for lots of money to the highest bidder. And cgx must know that they either pi$$ or get off the pot. If they lose the licenses, cgx goes to zero and Suresh and Tralisa lose their money printing machine. Most of the info on the website is about the concessions with lots of details about what has been done. The port is still a black box as we really don't know what it entails to build it out completely forgot and what is the business plan but that is secondary now. CGX was pretty confident of getting moved to the next phase based on what they wrote. I agree these jokers are not to be trusted but their hand which looks like a straight flush is being forced and I am betting they win even if they are reluctant to play. I am with wcp and bought a few more at 40c after their quarterly update. Let's see where we go from here but we should need to hear officially from govt.
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