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 OIL_RUNon May 09, 2012 5:03am

497 Views

Post# 19888152

RE: Did anyone read the MD&A and Financial Stateme

MISFIT - great post! How in the world does CGX get in a situation where it has to raise $20M and after drilling Eagle Shallow is concerning.

I can't believe Kerry Sully (along with the rest of the board members) had no knowledge of what was going on financially either.

Also, who is Suresh Narine and how is he now the chairmen of the board for CGX? The guy has 0 experience in the oil & gas industry, teaches biomaterial research at a university, and has little to no corporate experience.

Again, thank goodness for Tullow.

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