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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 Sep 05, 2023 8:24pm
205 Views
Post# 35621035

RE:CGX stock value

RE:CGX stock valueI am not saying Majors are going overpay due to FOMO.  I am saying they will not low ball due to the competitive tension of a process.  If this is as good as we think, there will be multiple players at the table and someone is going to have to pay more than the others to secure it.  Just how much more is the question?  I have been a part of these types of deals as an M&A advisor (in other industries) and because of the process we see offers with a large range of value as the value is different to each party.  There is a reason they do not come and say we want $X because there maybe someone who will be willing to pay more than that. If you lowball you are definately not getting this unless you know you are the only party at the table.  Lets hope management is smarter than that.  I know that is a big ask but they have a lot riding on this as well.
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