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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 YancyDerringeron Jun 16, 2015 6:46pm
157 Views
Post# 23837504

RE:RE:RE:RE:PP

RE:RE:RE:RE:PP
Phantomblogger I first like to state that I think Catkin is on to something I have been thinking about regarding CGX and Inpex. They are a very strong possibility for a JV etc. I think Catkin is right. With regards to your question on Suresh's comments, I was very happy that Pacific got involved with CGX and sued for a settlement and CGX's rights to be in the license regardless of what name they give it now and how they alter the lines of the license (slightly from the original Georgetown area). However I find it objectionable that the managers and directors of CGX allowed the 90 day option to lapse. They did not protect our shareholders rights in this regard. WHY? It smells!Repsol/Tullow/CGX drilled the Jaguar in the Georgetown license and found 2 showings of oil with pressure and had to cap it. So with the correct equipment perhaps we could have found a commercial well. Pacific and CGX fought to get back in only to give up the prize of what they fought for, does not make any sense, just doesn't, something was transacted not on the shareholders behalf. They can't say they didn't have the money to buy in, when did that ever stop them.
Bullboard Posts