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 mark92on Dec 16, 2009 8:12am

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Post# 16591604

Evaluation ...

A new evaluation of offshore Guiana (French) related to Wessex's 1.25% interest..

"The valuation of an early stage exploration company is by its nature uncertain, however, we would point to an EMV (estimated monetary value) of US$28.5 and an NPV (net present value) in success of US227 million for Wessex's indirect 1.25 percent stake in the Guyane Maritime licence" Westhouse said.

www.procativeinvestors.co.uk news on Wessex.

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