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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Post by OIL_RUNon May 19, 2020 3:54am

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Post# 31044408

PETRONAS FARMS DOWN BLOCK 52 TO EXXON

Not surprising to see Exxon acquire additional interest in in the Guyana / Suriname Basin. In this particular case, 50% interest in Block 52.

Much more here to come (I suspect) from the other super-majors looking to enhance their exposure to one of the most prolific offshore basins in the world.

see link: https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSL4N2D11FN

Just a matter of time before our number is called...

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