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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
Comment by STVPon Nov 29, 2011 8:21pm
467 Views
Post# 19276847

RE: RE: RE: RE: RE: Elections Prelim Results UPSET

RE: RE: RE: RE: RE: Elections Prelim Results UPSET

In all seriousness, lets hope PPP wins. If APNU/PNC wins, this could be scary for Guyana. When you read about the history of the country and what the founder of PNC (now APNU) did to the people of Guyana, it's inhumane -- he was a dictator, see this link:

https://en.wikipedia.org/wiki/Forbes_Burnham

Read the section on "Socialist Nationalization". If his are the same ideology that runs in the current APNU party, then this country could become communist/Socialist. Companies such as Guyana Goldfields, CGX Energy and any others with large scale operations there will need to get clarity from this new government before investing any more money there.

Not picking on CGX Energy, just realize that if APNU wins the election, you need to get clarity on what their policies are for foreign investments. The last thing anyone wants is investing their money to develop a mine or oil production and then have the government tax it heavily or nationalize it. Given that the GDP of this country is so small, the mine that GUY is going to build would easily make GUY the biggest single GDP contributor, now imagine if in 2014/2015 CGX starts oil production, what % of Guyana GDP would that represent? These companies being such a big spotlight in the country will surely be know by everyone and the government. So if APNU does indeed win, please try and get clarity as to what their policies are for foreign investments.

Bullboard Posts