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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

Post by FatsDominoon Jan 31, 2022 10:51pm
334 Views
Post# 34383080

leak and pump

leak and pumpnow values this company at $1 billion. Nice pump. Pumped it up from $300 mil to $1 bil. Now comes the dump. Watch who cashes out. 
They will need lots of cash to try to prove this up. big dilution incoming if they can find a partner.
$1 billion market cap valuation way too rich. Watch out for those who pumped this.
Do they have a flow test? Is the oil bearing reservoir mostly water?
So much to do and yet a $1 billion valuation. Buyers beware.
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