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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 Japanophiliaon May 04, 2012 6:55pm
365 Views
Post# 19874091

RE: New Short Report Out

RE: New Short Report Out

Agreed, no shorts around. I guess we all owe STVP an apology, lol.

I'm not exactly sure what the definition of insiders by TSX means, even after reading this:

"Definition of "Insider"

Rule 1.1 of the Universal Market Integrity Rules (UMIR) defines the term "insider" as a person who is an insider of an issuer for the purpose of applicable securities legislation. Applicable securities legislation generally defines an insider of an issuer as including a director, senior officer or a person who owns, controls or directs 10 per cent or more of the voting rights in an issuer's securities. For further clarification, reference must be made to the securities legislation of every jurisdiction in which the issuer is a reporting issuer or equivalent. Reference should also be made to CSA Staff Notice 55-308 - Questions on Insider Reporting."

https://www.tmxmoney.com/en/market_activity/itm_important_info.html

As far as I know, only PRE and Sprott (according to an earlier post by I forgot who) has that type of numbers. It's unlikely that PRE will be selling for peanuts profit wise, as their entire stake in OYL costs just a fraction of their yearly earnings. So it has to be Sprott divesting a few hundred thousand of their tens of millions of shares held. A good time to do so yesterday, since daily volumes are usually rather low for a 300M share company.

Found the portfolio of Sprott's funds dated till Dec 2011. Still looking for the updated version:

https://www.sprott.com/media/128408/Audited-Annual-Financial-Statements.PDF

Sprott Canadian Equity Fund - 15,591,742 shares (page 16)

Sprott All Cap Fund - 160,000 shares (page 57)

Bullboard Posts