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.

TSXV:OYL - Post by User

CGX Energy Inc > Selling Pressure

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Comment by Ermospon Jan 24, 2023 12:23pm

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Post# 35242554

RE:Selling Pressure

Selling pressure would have existed regardless because of 2-3 months of dead money.

The fact it's now 4-5 months drill blindsided everyone. You can probably sell and come back in 3 months for the same or a lower price.

CGX always finds a way to deliver bad news with good.

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