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 glorieuxon Jul 16, 2012 8:16am

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Post# 20116187

RE: RE: VALUATIONS - TOO LOW

While they did not reach TD and Jaguar,

samples of light oil were successfully recovered from two Late Cretaceous turbidite sands so this is a very positive development here. Add to this that Jaguar is still unknown, not a water reservoir like ES and we have more good news than bad here IMO. It increases the likelyhood of the bassin holding more light oil. This to me will bode well for finding another JV partner for the massive ED target. With some luck, they will be announcing a JV partner for ED. I certainly do not see this hitting the lows that we have talked about if Jaguar was a bust.

G.

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