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 marketwolfon Mar 14, 2016 12:37pm

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Post# 24655892

RE:RE:RE:RE:RE:RE:CGX donated funds in Guyana

waitingstill, I know pretty well the situation. I'm assuming when you say drill, you are talking about a drilling rig.

There are many ways to raise cash in this market, even when everybody things the world is coming to an end due to oil prices. Market loves when scared people run away!

Please, take a look of how many canadian companies have raised cash in the past 2 months and how many deals have been closed without a cash component.

I think the best option for OYL is to raise capital or get a good deal with a drilling company, and drill one well. This is going to give some value to the properties, openning the window to sign a JV.

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