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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 westcanprideon Feb 17, 2022 12:26pm
283 Views
Post# 34438467

RE:CGX and FEC

RE:CGX and FECChulo,
I doubt the government will ever allow CGX to be bought out completely. There is a deep intimate relationship between CGX and the Guyana government that will likely always exist. The conference  the last couple days is a good example... Suresh down there giving talks, interacting with everyone he can.... and De Alba is no where to be seen. Suresh has his shortcomings, but at least he knows the value of relationships and trust. 

So yeah, as much as Frontera would love to take CGX out completely (and the $2.82 CAD share price right now is a complete joke really, making it easy to pay the premimum needed to acquire all remaining shares), it probably will never happen. In fact, given the deep personal connections, any other JV partner would probably love to have CGX stick around (even at 10% WI) just for regulatory and peace of mind purposes. 

In saying this, who in the hell would actually want to partner with Frontera in Guyana? What do they bring to the table? They have no offshore expertise, no big pockets, nothing. If anything, having a small time company like Frontera calling the shots right now is probably the reason no JV deal has been done. 
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