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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 SportyJon May 06, 2022 5:52pm
353 Views
Post# 34663646

On the Contrary

On the ContraryMiftee, my friend, giant deals happen quickly all the time. Buffet handed Vicki a smooth $10 billion in what a week? He didn't have to go down to Houston for months on end to go over Oxy's data room. Lol. Also wasn't APA still drilling or hardly done drilling when Total JVd? Happened very quickly. This bus is being driven by FEC/De Alba. My odds are 10-15% of a near term JV happening. Short of a JV happening, my odds are 100% De Alba takes another bite out of CGX and it will be dilutive no question. The real issue is that Corentyne is no Stabroek. Stabroek wells take 1/3 the time and 1/2 the money vs Kawa. And Exxon gets the vital data that Kawa couldn't. This is the real problem in attracting a JV partner. Drilling on the slope is the rub. As for Monday, my guess is a smorgasbord. Something for the pumpers and something for the bashers. Will we get clarity? Nope, not with this bunch. All imo
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