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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 Aug 12, 2021 12:49pm
240 Views
Post# 33694521

RE:RE:RE:RE:RE:RE:RE:RE:On the way?

RE:RE:RE:RE:RE:RE:RE:RE:On the way?There is always risk (operational, financial and geological) so unless you don't care if you lose it all, you probably should have some exit strategy. Give the risk:reward ratio here, I want to have a lot riding on the drill result but I have been here too long to come out empty handed. I will probably sell 20-30% of my holdings as we move towards the drill result. As I am currently up more than 4X, that should take out my investment plus some and leave a good chunk for fireworks if we are so lucky to hit commercial oil. Enough to be life changing for me. But still have my original investment out to fight another day if things go sideways.
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