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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 17, 2012 12:40am
250 Views
Post# 19919061

RE: RE: RE: RE: Leduc # 1

RE: RE: RE: RE: Leduc # 1

The fact that Repsol and Tullow are invoved, with a 77% hit rate over the last 5 years should tell any layman we are in great company at Jaguar...nothing guaranteed but a very realistic shot at a 10 bagger from these ridicouls prices.  The big question is do we JV before or after results for Jaguar are in.  If we do it before, we are not in a great negotiation position.  If they miss at Jaguar, even with a JV on ED, we are still in trouble.  If they hit at Jaguar, we are de-risked by a fair margin I would think and then we are in a great position to do a JV deal.  I know most would call for a JV on ED if we can get a fair deal.  The way I look at it, I would think either both Jaguar and ED have oil or both do not.  A JV now when you think in those terms may not be the best idea.  If Jaguar hits with its 1.1B barrel of oil, how much does the value of ED go up by with it's 2.5 BILLION barrel of oil potential??

At the end of the day, if there is oil, we will all be very happy.  If there is no oil, no matter what JV is in place, we will lose our shirt.  So make sure that when we get close to crunch time, you only have risk capital in the game!

G.

Bullboard Posts