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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
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Comment by glorieuxon Sep 19, 2011 4:14pm
355 Views
Post# 19058650

RE: RE: RE: RE: Oh well, whats another 130 Million

RE: RE: RE: RE: Oh well, whats another 130 MillionI agree that this was probably necessary to get  a financing done.  Have you guys not seen the global turmoil?  80M cash in the bank (92 if over allotment filled-no brainer in my book) is good news in this kind of situation.  We will be trading down tomorrow most likely but that is an occasion to fill up, hopefully for the last time!
Glorieux
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