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 kentoon Dec 23, 2011 9:52am

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Post# 19348272

VENEZUELA'S ESSEQUIBO CLAIM

Here's what an official of the Govt. of Guyana said on the issue:

Thanks, But the Venezuelans have made no effort lately to "reclaim" Essequibo, contrary to the prediction in the article.

Their public reaction to our claim to extend our continental shelf has been fairly muted (at the official level) and privately they have agreed to dialogue. All of this could change, though, when they have elections shortly. Chavez, and other Venezuelan politicians, will not hesitate to ramp up the issue to score some points.

Also, if oil is discovered, public opinion in Venezuela will get more aggressive at that point.

Cheers,

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