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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 LCSullaon Nov 15, 2023 10:41pm
162 Views
Post# 35738301

RE:Partial acreage relinquishment

RE:Partial acreage relinquishment We already "trimmed the fat" when we gave up the Demerara block.  Saying due diligence could have foreseen this possibility is a misnomer.   This is the guyanese gov't  saying they no longer care about us. They bent over backwards to make the local boys succeed and we failed....for the most part. Could they pull our port license now too since we haven't fulfilled any of those obligations either.   Perish the thought.
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