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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 deepthinkon Sep 17, 2009 5:07pm
389 Views
Post# 16316119

presentation Georgetown block

presentation Georgetown blockThey claim that the results from the processing are positive and consistent with the Gustavson value estimates.$0$0$0$0Very interestingly, they said that there were 5 targets in the Georgetown Block. Assuming those 5 targets are, in total, the same value as Eagle and Eagle Deep, that would add 25% more value to this company, or about another $10 per share, using the Gustavson estimates.$0$0$0$0$0The Gustavson estimates using their fully risked assumptions, only on the Corentyne prospects, give this company a $5bn NPV, or about $30 per share ($4bn at current oil prices, or roughly $25 per share). So the Georgetown stake, which we are only now hearing has multiple prospects out of the 3D processing, may easily be worth much more than the current share price. $0$0$0$0$0$0$0
Bullboard Posts