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.

TSXV:OYL - Post by User

CGX Energy Inc

Bullboard Posts

Comment by simonx72on Dec 11, 2009 9:22am

455 Views

Post# 16576979

Total stake 100-120 million

Total 25% stake in French Guiana is valued at $100-120 million.

2 things against CGX:

1.The acreage in French Guiana is much larger than the Coryntene block.
2.Total is farming in to companies with an excellent track record (Tullow and Shell) unlike CGX with no recor(4 dry holes)

The deal CGX gets will not be as good as this( and I am a strong supporter of CGX).

https://uk.finance.yahoo.com/news/update-1-total-joins-tullow-shell-in-french-guiana-block-targetukfocus-78e791f6662c.html

Bullboard Posts

BMO evolves InvestorLine with enhanced tools for options trading