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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 Dirksidetrackon Jun 27, 2022 6:35pm
275 Views
Post# 34785962

Consolidation

ConsolidationIs happening right now. The "long trap" has been set. Longs can't sell without creating a devastating sp drop where they'll end up screwing themselves. So to avoid screwing themselves they're slowly bleeding their shares for sale for anything that they can get. That's what's happening. Longs slowly bailing out. At some point someone could come in and offer shares at say 25 cents per share. Crash the sp. How many shares at say 25 cents ask would be necessary to sink the sp? 100,000, 300,000 one million? So it comes down to whether the longs think that the value is much higher than market. The apathy on this board tells me that most will condolidate for pennies. Bunch of dumb f's.
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