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 Atonon Jan 22, 2020 6:26am

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Post# 30581764

RE:Bankers ‘bombard’ Guyana with financing

But CGX and Frontera could also, if the prospects look extremly good, solve the situation with some kind of bridge-loan from Frontera to CGX to cover the first drill. Then if its a hit they can take advatage of the Bankers offers to set up an production company that are financed by the banks. This company will take all Capex needed for developemnt and FPSOs, this is the way Nigeria developed the production of one lillon barrels per day with 3 FPSOs offshore. Frontera and CGX will then be payed in dividens from this production company after, bank rates, dev. costs and royalties to Guyana.

Interesting times ahead!

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