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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 Stampederon Jan 21, 2023 11:32am
202 Views
Post# 35237332

RE:RE:Confirmation ...Rights offering

RE:RE:Confirmation ...Rights offeringThe lack of liquidly on a thinly traded stock will lead to volatility and market prices that do not reflect the fundamental value of an asset.  As small cap investors we are looking for those types of opportinities and is the reason I am long CGX.  FEC valued the CGX assets more than the what the market peceived the value of those assets to be at that time.  I consider FEC to be an informed and sophisticated market participant and would expect that as a company with many investment opportunities would have assessed their purchase against their own cost of capital hurdle rate and any other investment opportunities they were assessing at that time.  I expect that FEC's access to information, internal analysis and due diligence processes far exceded any efforts I made prior to entering into this investment. 
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