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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
Post by Qwerty123456on Aug 27, 2017 7:20pm
217 Views
Post# 26626566

CGX share price

CGX share priceIt is unfortunate to see the share price dip given we had support in the 11 to 14 cent range for some time and as another poster to this board pointed out we were in a gradual uptrend.

I am somewhat comforted however that the volumes associated with the recent price decline were relatively small so only a few retail positions were liquidated. I can understand that some people's patience is wearing thin. Point being there was no large scale selling.

Go forward I don't see the share price going really any lower. I think now that the CGX Chairman has 1 million share options as granted in May (at 7.5 cents or so) that we will see support and then a return upward.

My opinion only.

GLTA
Bullboard Posts