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 Fnordon Apr 21, 2012 2:23am

735 Views

Post# 19819414

RE: Good news around the corner

I don't think this is about news from Eagle being leaked. This has been a bad month for most miners and explorers and the juniors with very high risk/reward always get hit the hardest in these downturns. CGX had a huge speculative premium when it was at $1.50. A 500MM market cap for a junior explorer with no cash flow that hasn't drilled yet is very high, regardless of the potential of the discoveries.

I own some CGX and can't think of a singe stock with higher growth potential within the next year. But I'm not that surprised to see it get hammered here, and Iike many other people I'm waiting for the dust to settle before I consider buying more shares. If it hits 0.70 again I will be really tempted. GLTA

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