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 BigBadBon Apr 01, 2013 10:45am

185 Views

Post# 21191867

RE: RE: RE: RE: RE: RE: Analyse This

I may consider voting for getting rid of the current shareholders protection plan but why is not the new plan proposed first?

Even with PRE at the helm of CGX, a larger than PRE entity can attempt a CGX takeover in the future. If that happened, what would be a protection in place for shareholders outside of PRE?

Why would PRE need to get rid of shareholders rights – should not a new shareholders protection plan be proposed first before throwing the old one out?

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