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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. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

Bullboard Posts
Post by shleevoon Apr 30, 2009 3:39pm
487 Views
Post# 15957299

Presentation

PresentationI was quite pleased with the presentation.  No big surprises here as I think we were all expecting the 3D to show positive results.  As far as drilling, the plan was all along to try and coordinate a RIG with another company.  The big question still remains "Who will be our JV?".  That will change everything and set the timeline for drilling.  We could be second or eighth.  It's not something that Sully can even state for sure without a JV. 

I haven't sold any of my position as I'm not very good and jumping in and out of stocks.  I've been invested for many many years and I will continue to buy on lows.  I'm averaged quite low so I've already made a significant profit.  When we hit 1.30, I expected a pull back to about .80 cents.  It's taken a lot longer than I thougt for a pull back to those levels.  At any rate, for me it's not worth the risk to be trading out of this stock for .20 or .30 cents, I would prefer to just add to my position.  I'm busy enough that I can't watch this stock all day every day and it has a tendancy to take off when you're not paying attention.  To each their own.

Good luck to everyone
Bullboard Posts