Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

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 Apr 20, 2021 1:04am
180 Views
Post# 33027245

RE:RE:Wcp

RE:RE:WcpThat is an interesting thought WCP. Perhaps that is what FEC plans with this latest loan. If no JV comes, FEC takes another 25 percent for a full carry for two wells. If they hit and have potential but are not great, the CGX can't pay back the loan and they take over completely by June 2022. If CGX gets a JV, loan gets repaid but they get their pound of flesh up to 83 percent but everyone benefits. Perhaps that is what they are thinking. And maybe that is the July 15 cutoff date. If no outside JV by then, then FEC will make their next move at that point? I wonder. Sure hope we get a spud date and rig contract soon. If these idiots can't generate a JV with their location, it will truly be incredible.
<< Previous
Bullboard Posts
Next >>