CGX Energy Inc V.OYL

Hess sells interest in Mexico for Guyana project

[lexxus296111111]

https://guyanapetroleumdigest.ca/2020/10/06/hess-sells-interests-in-gulf-of-mexico-to-plug-us0-5-billion-into-guyana-oil-industry/

[jada13]

That's the kind of news we are looking for right now.perfect timing .I have a feeling it's going to be Hess.

[zerbo]

Goog thoughts, with there experience with Exxon, they know were and in which deep , let's cross fingers

[westcanpride]

Let's hope and pray Frontera/CGX can make some kind of deal with the new money HESS has... or anyone one. Cannot say I really care who at this point.  Imagine if the government forces Frontera/CGX to relinquish say 25% of the Corentyne license and instead HESS pays the government instead for a chunk of the newly available license. I sure hope this never happens, but always a possibility.

[waitingstill]

WCP - If CGX has to give up 25% as you suggest, typically they are allowed to select which 25% and it would be the least prospective which would likely either be some of Berbice, or Demarara and maybe Corentyne where it meets the shoreline. I highly doubt HESS would pick up those blocks (maybe Demarara). So I would not worry about that. Even if we get an extension and are still standing with only

[westcanpride]

Excellent post waitingstill. I did not know that CGX/Frontera could choose which % of the land blocks they wish to give back to the government. In many ways, as long as they can keep northern half of Corentyne and maybe 50% of Demarara, then all is good anyway.  I would have to guess at this point an extension would be coming fairly soon. November is around the corner and I cannot see CGX

[soulfire]

Us shareholders should buy Suresh a hammer drill and a diver's suit and let him go at the Northern Corentyne area (start earning his keeps) FFS. Alright let's keep our heads up....shouldn't be too much longer now.

[Qwerty123456]

Not sure this management team will actually ever earn the level of compensation they are receiving if history is any indication. Few tangible results IMO have been achieved to date. This company has now been put on watch by the government due to inaction. Also if what you say is true and our co chair has brushed off a few prospective deals then that may mean he is not acting in the best interest

[YancyDerringer]

WCP -Reality Check - CGX has nothing to sell , since it needs it's concessions renewed! If Guyana's government wants to be kind and loyal since CGX bascially got the country to this point of success with winning the court trial over the boundaries  and the covid crisis has interfered with preceeding ahead with operations (an excuse) , then they will be renewed, however , large multi