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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 1StewPidBatPisson Dec 08, 2022 8:20am
136 Views
Post# 35158464

RE:Starkly was right

RE:Starkly was right Not a scam. The umpairment on revenues imposed on them and others in Colombia with president Petros new tax on hydrocarbon companies has caused investors to sell not only them but many other companies operating in Colombia. Petro won by forming a coaltion with envitonmental radicals. His vice-president leads that coalition. She has vowed to make hydrocarbons obsolete.<p><p>So fec's revenue stream is to fund Corentyne developmrnt is being impaired. That's why fec sp is dropping. Yet they got the cash to drill Wei-1. As many posters have stated, Wei-1 is a coin flip. If they nail a hydrocarbon system that "unitizes" with (feeds) Exxon fields then a JV with big money is likely. If not, then both fec and oyl are screwed. So it comes down to your faith in the earth scientists who have identified Wei-1 as a good prospect. This yap critisizing oyl management is something that I ignored. When the yap started to get on Noble Discoverer's case I had to refute that as being lame. What's next? Blame the service companies, the cooks and catering staff? No! It comes down to 3 things: geology, geology, geology. Did they interpret the seismic and its correlated with Kawa results correctly? Make your bets folks. Could be a 20 bagger or bust. 50-50 odds. 
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