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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 aesheaon Jul 25, 2010 10:44am
675 Views
Post# 17295142

addition allotmeent is greed

addition allotmeent is greed "Company has decided to increase the size of the Original Offering from $15,000,000 to $17,500,000 (the "Upsized Offering"). This increase to the size of the Original Offering will result in an aggregate of 35,000,000 common shares of the Company being issued under the Upsized Offering".

Although it is not a lot of shares it is satisfying some bargan hunters thirst at a below fair price and dilutes our holdings,
30 million @ .50 cents was enough to see them through for now and the next PO we hope will be at or above 2 bucks or maybe 3.

What I am saying is, the thirst will be there and we could have raised up to 45 mil. $  with the same15 mil. shares.
Bullboard Posts