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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

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Post by OIL_RUNon Dec 23, 2019 3:36pm
255 Views
Post# 30485150

TOTAL-APA JV - OVERVIEW

TOTAL-APA JV - OVERVIEWAPA has developed a great template for CGX to use regarding potential JV negotiations... See link below

Corentyne Block JV: 33% CGX, 33% NEWCO, 33% Frontera
Exploration Well Cost (2 for each block): 10% CGX, 50% NEWCO, 40% Frontera
Appraisal & Development Cost Participation:
 - First $10B in gross spend: (33% Frontera, 50% NEWCO, 17% CGX)
 - All Spend Above $10B:  (33% Frontera, 40% NEWCO, 27% CGX)
Cash Payment Upon Close: $66M for each license (cash payment does not include $155M in Corentyne cost recovery amount owed to CGX)
Royalties: 
 - $0.25 / bbl if Brent is ≤ $65
 - $0.375 / bbl if Brent is > $65 ≤ $80
 - $0.50 / bbl if Brent is > $80  


https://investor.apachecorp.com/static-files/5c5bb50f-f075-408b-9d8b-6509573cc8ef



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