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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 Miftee9on Mar 11, 2022 5:39pm
240 Views
Post# 34508108

RE:Over 2 million shares traded to remain only at $1.84CAD? Wow

RE:Over 2 million shares traded to remain only at $1.84CAD? WowWell, if they borrowed another $100M yesterday the juice would start at 9% so why get a loan now?  They also have the ability to pay back the loan which means they have an opportunity to get a JV signed.  Once signed they can pay back the loan.  The terms of this loan are good.  Conversion at $3.10 is very favorable. 

Just like every other time this Company is in danger of going bankrupt, someone saves them.  CGX is destined to succeed.  Just have patience.  My advice is set a sell order at $7 and then delete your stock app and get off social media.  One day you will wake up and find that your bank account is flush.  I wish I could do that but i sit in front of my computer all day so almost impossible to not keep track.  Today is better than yesterday and this month is better than last month when it comes to this stock.  That is all we can ask for.  Have a great weekend.
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