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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 whyworryon Jun 17, 2023 11:37am
1704 Views
Post# 35501726

Criticism of CGX management

Criticism of CGX management

In what I would describe only as horrible asset management,  Frontera have deliberately kept CGX underfunded and hanging by a thread.  CGX communications could be vastly better but I think this is the best we should expect in an environment where DeAlba is rationing toilet paper.  

This makes me even more curious why the recent press release contains this shiny nugget of optimism.   Aside from Frontera's embarrassing overuse of the words "transformational opportunity", past communications have never expressed this type of positivity.

I am optimistic and agree with the conclusion that there must be a significant discovery being quantified and look forward to the details, but as to who or why this release was worded in this manner is a head scratcher to say the least.  

 

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