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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 oscarmikeon May 15, 2015 2:16pm
147 Views
Post# 23733836

RE:Change in government

RE:Change in governmentI am very interested in knowing what we could face with this change in gov't if commercial quantities are found. &nbsp;Of course CGX hasn&#39;t actually hit, but the game will have changed since we&#39;ll have moved from the unknown to the existence of viable quantities.<br /> <br /> I watched a documentary call &quot;Big Men&quot; about the Jubilee find in Ghana back in 2007. First oil find for the country, by a small foreign company which had spent years investing and building relationships with the gov&#39;t while risking everything in an unknown basin.

After the find they had to deal with a change in gov&#39;t, accusations from the new gov&#39;t about bribery which had to be investigated, caused delays & affected the company&#39;s valuation, as well as market oil prices starting to drop. &nbsp;Even Exxon backed out.  Took years to get back on track. &nbsp;<br /> <br />We've been thru gun boats, UN courts, dry/problem wells, money problems, money problems, money problems.  If we hit I fear it will be the beginning of the real dog & pony show.  As a Guyanaese-Canadian and CGX stock holder I hope Guyana and CGX has observed and learned from others and if operations get up and running, we go the way of Norway and not Alberta.
Bullboard Posts