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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 SheDrillson Dec 18, 2023 10:32am
317 Views
Post# 35789733

Shareholder Purgatory

Shareholder PurgatoryUnfortunatley CGX is in shareholder purgatory until they annouce a deal.  Either a deal that fianances the port completion and enables near term revenue or a deal that monetizes some or all of Corentyne.  There is no reason to get excited until then or until the shareprice signals a leak.  I expect to see us washtrading in the meantime or continue to bleed down as more shareholders hit their tolerance limits.
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