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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 JS4900on Aug 08, 2018 1:18pm
173 Views
Post# 28428213

CGX - Price Action

CGX - Price ActionI was wondering why the price had been moving up recently. 

It looks to me like word of some sort of a 'ceremomy' and 'announcement' taking place in Guyana leaked out, and some people may have read too much into it, thinking it was a JV announcement, or something like that, thus causing the price to rise.

Just speculation on my part, but that's how it looks to me.

(I do, however, think it's likely they'll eventually get a JV and/or financing to move forward with various work programs. When that happens, or what form that takes, remains to be seen.)


just my opinion
Bullboard Posts