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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 Zibo510on Jan 30, 2024 12:00pm
128 Views
Post# 35852767

RE:RE:Scamming shareholders unfortunately

RE:RE:Scamming shareholders unfortunately Waitingstill I hope you're right but hoping for multiple offers is pretty optimistic IMO.

I have been following this story since prior to the border dispute and OYL has always been looking for a JV partner the whole time.

Other than Repsol and Tullow who JV'd with OYL on the Demara PPL which fell apart the only other JV they have attracted is FEC and that hasn't been a great success and that's over more than a 15 year period.

Time has proven that the oil is further offshore and all of the inshore PPL's haven't worked out which is why OYL is now down to just the remaining northern portion of the original Corentyne PPL.

With all of the interest and success in the basin over the last few years I would have thought that OYL would have had a JV offer by now. 

I have doubts about OYL receiving multiple offers, but hopefully I'm wrong. 
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