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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 Kelvinon Mar 23, 2024 2:08pm
108 Views
Post# 35948895

RE:Cgx …frontera ..fpso

RE:Cgx …frontera ..fpso Well Frank, texhnically I guess that there are many less expensive ways to produce Corentyne than building an FPSO. Cgx/ fec themselves said that they could buy an old oil tanker and make an FPSO out of it. That's not the reason why sp is so low for both oyl and fec. Thw sp is so low because retail investors feel thar their interests aren't being protected neither by the companies nor by the government. So why buy stock, ETF, bond etc if the risk of being played is so high. This Corentyne debacle is quickly becoming a poster child to stay the f away from anything Guyana that doesn't have XOM leveragw and influence behind it. Geez eveeybody hitting on stuff on Corentyne's door step investing 10's of billions in projects and oyl at 37 cents???? Yeah, do the math.
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