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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 Sep 26, 2021 9:38pm
267 Views
Post# 33921587

RE:RE:RE:Question

RE:RE:RE:Question Lol. You and most others including me, had a $3 target to unload some. Would have been a rush to the exit. I am going to wait this out for a while. Will probably make my decision around Oct 21 to make sure I have time to do what ever I can. My brain says that there will not be enough buyers at this to prop up the SP above $1.63 as too many may try to arbitrage this. That will cause it to collapse quite quickly and eliminate much benefit to sell the Rights as well. But my brain left a little space to believe that now all pieces of the drill are solved and secure and we are half way down without a hitch and money guaranteed at a pretty reasonable cost many more will want in and hold the price or maybe even get it to run a little. In that case it would make most sense to buy the Right if they significantly underwrite the stock price. Remember, by Oct 21, we will be only a few weeks aware from where our drillers tell us we will be on top of the formation. Hopefully FOMO has set in and we are much higher than $1.63 so it could be a no brainer. We have to wait... still... unfortunately
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