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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
Post by Formulatoron Oct 07, 2013 6:34pm
353 Views
Post# 21797834

Current share price

Current share priceWe are where we are today because PRE stopped buying. There are no other major buyers or new investors with deep pockets. we have lot of investors sitting on a bunch of paper and some are losing patience and selling it (for whatever reason, tax loss included). So no buyers, no news (PRE is very tight lipped), no pumpers, no significant upcoming events and drilling 12-16 months away = equals = a dropping share price. And as it drops more, more people start to think that something is wrong and start to dump as well. its an awful penny stock market out there, everything is getting hammered. Tax loss selling season is also coming up and that will result in potentially more selling. So outlook is really bleak right now. But if you believe in the play, there is oil somewhere down in the Turonian and Albian region. and there is a lot of it. The problem for us is can CGX hit it on the next try ... the odds are 15-20%. a few things that will move SP in the short term, PRE starts buying again, takeover, JV or farmout announcement etc..... until that happens, its going to keep drifting on very low volume down....
Bullboard Posts