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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 10, 2022 7:47am
284 Views
Post# 34669645

Webinar

WebinarOverall, I liked the presentation. First, the fact the team was able to get Kawa down to TD is something even the majors are taking note of. Second, the oil/gas/condensate debate is answered by the decision to go forward with Wei. Would they spend another $100 million if Kawa was a dud (non commercial)? I don't think so. Third, they did double back flips assuring the protection of minority shareholders and the independence of CGX & FEC. Whether one believes it or not; Cgx appears concerned about the perception by the market. Fifth, the majors are also very interested in what was seen in the Coniacian. Lastly, Now we wait on financing for Wei which the wait will be painful if they can't get the sp to double or triple from here. Of course a favorable JV, which seems like a long shot, could solve all this. All imo. PS: the trading halt was bush league.
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