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 catkinon Mar 07, 2013 1:32pm

351 Views

Post# 21095083

RE: RE: RE: Reality check.....

Mardan 10

The other side of the coin is that CGX will stay in tact because there is a lot of Guyanese interest involved in the company.

We also do not know the fine print regarding the issuance of the licenses to CGX. The possible 10 year length of the term of those licenses, and the fact that they were renewed prior to expiry of the existing licenses makes me think that they were issued prematurely to CGX to protect their continued involvement.

PRE may not have a say in the matter! It may well be a case of keep CGX or loose the licenses!

They were issued to CGX not PRE!

Lets face it, with the current set-up, PRE still gets around 70% of the spoils for very little investment.

Not bad hey!!!!!!!!!!

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