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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. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

Comment by waitingstillon Oct 06, 2021 2:31pm
198 Views
Post# 33974446

RE:RE:RE:RE:Price

RE:RE:RE:RE:PriceDefinitely a dry hole is a killer of the SP for CGX. Less so for FEC. So I take CGX as higher risk, higher reward than FEC. Will CGX go to zero? It will depend on what they find in that dry hole. If absolutely nothing, then CGX probably goes to zero although still have the port to deal with. But that seems unlikely. That said, I would not let all my shares risk that possibility. That is why 50% of my shares will be out by then. If I can get a 6 bagger on 50% of my shares, I am happy to let the rest ride on perhaps 80% chance of success and a grandslam. But you do need to protect your capital investment imo. I think Nov 15th is a good deadline to have removed some shares based on what others have posted about reaching TD.
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