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 GA_Makemydayon May 09, 2012 10:17am

319 Views

Post# 19889069

RE: STEPHEN HERMESTON

So true, Oil Run. The nature of the press release announcing Hermeston's departure was a shocker. It sounded more like a pee'ng contest had developed, and Sully as Chairman decided to make some changes.

I would guess that disagreements on Boards of Directors are not all that uncommon, but usually, aren't they managed in a far less disruptive manner?

It seems to me even the best novelists couldn't dream this stuff up. What a fiasco.

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