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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 Miftee9on Jan 30, 2023 10:44pm
182 Views
Post# 35255571

RE:RE:Blackout?

RE:RE:Blackout?I agree.  It cannot be a blackout if he exercised options.  To get this straight for those who dont know, he as to PAY the option price (49c) for each option to get an actual share in his account.  So he would have paid for that out of his pocket plus he would have to pay the tax on the earnings.  After he does that, he owns the shares and "could" then sell those shares at a profit.  Some would do that to pay for the shares and taxes but so far, it appears he has not which is extremely bullish.  In my mind, any option purchases well before their expiry date makes me think he believes this is a low price point for the stock as it minimizes his immediate tax hit.  Lets see what happens.
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