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.

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CGX Energy Inc

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Comment by lexxus296111111on Nov 25, 2015 7:46am

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Post# 24322904

RE:RE:RE:CGX Third Quarter Financial Statements

I take this result as a huge positive. It seems pretty reassuring based on: "Joint Venture Initiatives The Company continues to receive significant interest in its acreage offshore and onshoreGuyana." And also "This well is expected to be spud by the extension dateJuly 1, 2016." That was my big takeaway. But what confused me is this statement "The Rig Sharing Agreement is still in effect between CGX Resources, Teikoku and JDC." I thought this agreement was terminated. How can we still have an agreement unless there are plans in the work for drilling.... Any thoughts?

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