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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 Dirksidetrackon Feb 09, 2022 3:08am
203 Views
Post# 34411213

RE:Methinketh

RE:MethinkethYep Dfly, Ya done your dd for sure. I was thinking the same. Maybe interest in well in lieu of cash payment.

Excerpt from Rigzone article "Total S.A has completed the acquisition of Maersk Oil, which has resulted in the company becoming the second largest operator in the North Sea. Under the agreed terms, A.P. Moller-Maersk will receive a consideration of $4.95 billion in Total shares and Total will assume $2.5 billion of Maersk Oil's debt.Mar 8, 2018"

Anyway Dfly, I sure hope that somehow CGX and Maersk have teamed up in some way. Dynamic duo. Maersk knows something about being an oil company judging from the above excerpt. The two can go on indefinately discovering oil. If they find XOM type discoveries then we're talking about close to 100 wells needing to be drilled? Lots of possible work for Maersk rigs.

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