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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

Post by Harel1976on Jun 13, 2023 10:13am
272 Views
Post# 35493479

Wei-1

Wei-1I think different from all posters here, 71 feet in multiple secondary targets is not good and doesnt sound commercial at all.
So many red lights again and a weird time to release news with no point.
"Hydrocarbon signs in the primary targets", that is something i dont like to read on NR's.
Im afraid its going to be another kawa where the surgery was a success but the patient died.. 
Hope im wrong...

At times like this be extra carefull no to believe any bs the companies release...

A hardly commercial project is not something fec will advance and with 200m$ cost for exploration well no one will jv and cgx will get eaten by fec, cgx needs a big commercial discovery only, anything else is very very bad. 
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