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

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Post by SheDrillson May 31, 2023 11:54pm

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Post# 35474148

Cost Recovery

There have been a few posts about how much CGX Energy & Frontera Energy have spent over the years. Yes...$700 million over more than 2 decades is A LOT.

BUT...if oil ever flows from the Corentyne license that money will be cost recoverable. In other words...it's only "lost" if no development is ever achieved.

This is another reason why I don't think CGX Energy would ever go bankrupt...they would be bailed out or absorbed so as not to lose that $700MM payback when oil flows.

https://guyanachronicle.com/2022/09/18/cost-recovery-and-contract-terms-explained/

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A junior copper-gold stock trading at a bargain of monumental proportions