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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 waitingstillon Jul 22, 2022 12:35pm
191 Views
Post# 34843515

RE:RE:RE:RE:Rough Numbers

RE:RE:RE:RE:Rough NumbersYes, unexpected events can occur. To some extent, that has been factored in. Wei is projected to cost $90mil from what I recall. CGX is carried up to $130mil so they have put a $40mil buffer in there. So I think that does cover some of your concern. Yes, they could totally eff it up and then we are in trouble but that is the risk. But, as you said, usually that happens in wildcats and I don't think this is considered a wildcat considering it is 14km away from a well was very similar geology. Let's see what happens. Exciting times for CGX shareholders.
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