CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc

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Post by deepthinkon Jun 25, 2009 5:26pm

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Post# 16099308

AGM report

The key result from the 3D seismic appears to be that it increases the probability of success somewhat. Sully said at the end that it might be interpreted as increasing the probability of a given success from 20% to 25%. That would be equivalent to an increase of one quarter in the probability of success, which, given fixed costs of drilling, must increase the value of the company by at least one quarter. We should see a share price of at least $1.60 if AGM presentation provided new information.$0$0$0$0My gut feeling from watching the AGM is that Sully and Workman were being careful to understate everything. Betcha that Tullow was watching the AGM slides with much interest.$0$0$0$0$0$0$0$0

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