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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 SportyJon Apr 13, 2022 8:47am
120 Views
Post# 34599575

RE:RE:Flip a Coin

RE:RE:Flip a CoinMorning Dirk. The garden here is doing wonderful as I hope yours is as well. Gonna disagree with PlainViews assessment that a JV takes a long time. Total in blk58 is evidence of that. Additionally, my experience is that good prospects are easy to sell. Great prospects, like with a well already down and delineating things puts you in the cat bird seat. Companies line up and they line up fast selling themselves to you! That's the rub here. Cgx and the majors already know what Kawa achieved or didn't. Liza 1 did get the critical data (no DST by design). Staebrok geology is much different from Corentyne. The JV holdup imo is this HTHP situation. Just to run a DST (much less MDT & sidewall cores) can be done but it's really a technical challenge. Majors are a confident bunch and prob think they can do anything. Dirk, you'd be better to explain than me. But I don't think there's a cgx long around that doesn't want a JV and turn these challenges over to a major. Again, it's ALL about IF Corentyne is the real deal, finances are not a problem in the very short term. In summary, the majors already know, it's us retail folks that are in the dark. All imo
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