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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 Beaner1814on Jul 31, 2022 11:20pm
298 Views
Post# 34863629

RE:RE:MY TAKE ON THE CGX AGM

RE:RE:MY TAKE ON THE CGX AGMThe link states that a recording of the conference will be avaliable on the CGX website "shortly". As I was unable to attend, I am also curious to confirm that which has been stated here and elsewhere about what was discussed. I am especially interested to see if questions were answered regarding:

1. what strategic options were being considered prior to the farm in by FEC;
2. when we can expect TSX approval in relation to the related party transaction, given that exemption is being sought similar to the $35 million convertible note; and 
3. what exiting the Demerara and Berbice looks like for the JV, eg any compensation for works undertaken to date, etc.

It is not surprising that Suresh would be the one to lead this "open" conversation, and I appreciate that is has spoken volumes to those like Fiero, but trying to save investor confidence on the back of yet another "strategic" play by FEC seems hallow if you ask me. If this farm-in was the best play for CGX I want to hear it from the gift horse's mouth and at minimum as reason why. Been at this one for a while given the opportunity and original prospects CGX had. Hate that so much has been squandered without a peep as to why.

 
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