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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 Santanj2950on May 15, 2012 11:26am
218 Views
Post# 19910307

RE: RE: RE: RE: RE: TULLOW & CGX

RE: RE: RE: RE: RE: TULLOW & CGX

I agree its a pickle but hopefully all their efforst to support Guayana through the border dispute will at least buy them the opportunity to either meet or extend things. I dont think the final chapter of this novel has been written yet. Lots can occur between now and June 2013............

I still say this situation creates a great business opportunity for someone wanting in and I dont think they will wait till next year to try and bid on it or risk CGX not losing it. I'm still hopeful all the chaos has a plan behind it. They had to be prepared for a miss on ES. Do your DD, the odds were really very low on hit. They had to drill something  to meet the commitment and buy time to go deep.

My hopes are that the chaos that occured is based on a partenship plan resulting from the miss that Hermie was either against or the players wanted him out of.

 

GLTA

Tullow

Bullboard Posts