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

Bullboard Posts

Comment by Japanophiliaon Mar 28, 2012 12:55pm

685 Views

Post# 19728407

RE: Quiet accumulation.....

I wonder who are the ones buying or selling. Probably some cross trades again.

Either fun or mayhem, like what those guys in the EOG bullboard are experiencing now, the lesson a virgin trader in a junior explorer like me learnt when I rushed into OYL at more than 1.00, and before it fell back to a low of 0.56. It's called profit taking. The shares of EOG hit a high of 1.43 last week. Now it's just 0.94.

But I think OYL's management have played their cards well. Getting Tullow and Repsol as our JV partners , and keeping ED to ourselves while testing Jaguar with a mere 40M. I believe there is a buffer for the SP in the event of a duster for ES (not that I'm saying there will be), as we're in the midst of drilling Jaguar.

Bullboard Posts

Mullen Group's Robust Case for Value, Part 1: Less-than-Truckload