CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > Back Of The Napkin

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Comment by Mat1791on Jan 21, 2023 2:23pm

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Post# 35237552

RE:RE:Back Of The Napkin

ohcanada17 wrote:
Mat1791 wrote: Valuations For Corentyne Block

(all assumptions, simple evaluation, no taxes or royalties, only for comparison purposes)

CGX

Port Value = $335,000,000 USD / 335,000,000 Shares = $1USD

(1B BOE @ 32% X $5USD per ) / 335,000,000 Shares = $4.78USD

Total Corentyne valuation for CGX = $5.78USD or $7.80CDN

FEC

CGX Share holdings = (257,883,000 X $7.80CDN) / 97,190,000 = $20.70CDN per share

FEC Coentyne valuation = (1B BOE @ 68% X $5USD per) / 97,190,000 = $47.23CDN per share

Total Corentyne valuation for FEC = $67.93CDN

It's late, I'm quite over the new cancer causing alchol limits so, mistakes are probable however my point should be evident...

thanks Mat! Nicely done. Hopefully they're wrong on those new cancer causing alcohol limits or we're all in big trouble!