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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 tiger77on Oct 06, 2014 9:57am
183 Views
Post# 23001546

RE:RE:RE:RE:prospector

RE:RE:RE:RE:prospector
My take on this for whatever it is worth is quite simple. Prospector ( a seismic vessel ) which is owned by CNPC is not going to gamble 7+ million dollars by risking it on this if they don't have some sort of an idea what they are in store for.  They have clearly seen the data room in order to make that sort of a decision and feel like they can provide something more to the leg work needed to conduct this testing to give the well a higher degree of success.  You take that and add it to the fact that the remaining monies owing aren't due for a year after the testing tells me that they aren't concered at all about CGX being around which tells me there is some back room stuff going on here that we don't know about yet.  They can have my shares for $5 ea and we'll call it a day!  I also agree that any monies bought at this range are due for at least a 3X return prior to drilling if not more so if it stays here at the end of the month I will be adding again.  This could easily shoot back up to $.60 or more at the drop of a dime if someone puts in an order for 100,000 shares which is only 35k.  Until then we wait (which is getting boring for sure!)
GLTA
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