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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.


TSXV:OYL - Post by User

CGX Energy Inc
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Comment by YancyDerringeron Aug 18, 2015 8:06pm
154 Views
Post# 24029877

RE:RE:PRE will raise funds

RE:RE:PRE will raise funds
Well Tiger Pacific has a few options to move forward. They can do a JV, if they have a interested party, which has not materialized. They themselves do not have sufficient funds to invest in CGX for this process. Pacific had a budget for exploration of $550 million which was reduced to around $220 million and now one of the posters stated the amount is less than $150 ( I have not verified this last amount myself, only restating another's post). So CGX and Pacific need to go to the Street to get monies.
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities