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 > Interesting quote in today's PR

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Comment by Mat1791on Jan 23, 2023 4:28pm

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Post# 35240717

RE:RE:RE:RE:RE:RE:RE:Interesting quote in today's PR

Frank007 wrote: My 2 cents....for what it's worth ....money has already been committed for this well ....once complete the appaisal sets in...smart ...compession of the port project 2023..... feild development or farm in depending on oil prices ...either way Frontera wins .....

worth about,

...2 cents

If well is a bust, FEC may be worth $5-$7, CGX pennies to $1, everyone knows that.

If well goes good, both worth a lot more, everyone knows that.

So, CGX will be house rich but cash poor, balance sheet will look much better, just not liquid. Assets are assets.

And if they find what they think, liquidity won't be an issue, FEC's leverage will be diminished, and partners will come knocking.

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