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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
Comment by Dave4444on Feb 03, 2019 1:18pm
108 Views
Post# 29312077

RE:RECALIBRATE

RE:RECALIBRATEThe problem with the comparison to EOG, is that when it comes to exploration, it is location, location, location.  The EOG block butts right up against the recent discoveries, especially Hammerhead, which appear to carry over onto the EOG block.  Big difference compared to the location of the 2 CGX blocks which are not close to the recent discoveries.  One CGX blocks begins at least 100 kms from the discoveries and the other at least 50 km from the discoveries and the blocks are long and thin, meaning most of the blocks are an even greater distance from the current discoveries.  On the other hand, the EOG block is right beside the most recent discoveries and close to the other discoveries, plus because the block is more square shaped, the entire block is with 50 km of the Hammerhead discovery, making the EOG block far more likely to be a continuation of the recent discoveries.  Thus, while CGX blocks may be perspective for oil and gas, they are far more wildcat type situations than the EOG block which almost certainly has oil from the Hammerhead discovery lapping onto the block.  But just my thoughts, I like both companies, but for different reasons and would not compare the two at this stage.
Bullboard Posts