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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 glorieuxon May 14, 2012 3:19pm
377 Views
Post# 19907197

RE: RE: RE: JV is a fantasy

RE: RE: RE: JV is a fantasy

Zibo...how many do you think would accept $1, even at our current share price.  If the offer comes from PRE, their shares do not count and they would have a hard time getting the required votes I think.  Anyone else wanting to take us out at $1 would have to have a deal with PRE ahead and I cannot see them letting us go for cheap when they want to expand their own oil reserves.  

The company has already announced their plans...the DATA room is open!  Anyone wanting to look at our latest 3D seismic is going to have to sign an NDA and I would presume Tullow, Repsol and PRE are all looking at our results right now.  There is blood in the water and the sharks are circling.  A 2.5 billion barrel Turonian target is too important to be ignored!  We will get a JV on ED, we just may not like the terms but beggers cannot be choosers.

G.

 

Bullboard Posts