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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Comment by deepthinkon Oct 24, 2011 2:59pm

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Post# 19176680

RE: RE: Cormark Securities

I am not convinced that CGX has inside information on the Inpex results. CGX has an obligation to drill two wells in the Corentyne PPL. They also need to show to the Guyanese government that they are making progress. This means that they need to announce the seismic program, at least. They haven't contracted for the program, and it makes sense to wait until Inpex reports to sign any contract.

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