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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 waitingstillon Apr 08, 2022 11:17am
232 Views
Post# 34587891

Loan terms

Loan termsI think this extension has nothing to do with what offers have been coming in. How could it when all the data is not even back. Companies are not going to be throwing out offers without complete data so that assumption is premature imo. It is more likely to do with either tsx regulation and/or a realization that it would be unreasonable to complete a JV and get govt approval within such a short time frame when data is taking so long to be completed. This buys CGX another year. Not sure how/why people are taking it as a negative.
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