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 AnMaron May 26, 2020 6:35pm

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Post# 31075460

RE:RE:RE:Re false start

Good post westcanpride - I find your posts to be useful, honest and objective. Some folks have a hard time with objectivity once they're in too deep.

I agree with all that you have said. I believe the biggest impetiment to progress for CGX, has and will continue to be, the influence of legacy management. Success is all about management, if current management has been trying to retain a majority interest in the blocks then most majors will simply take a pass, and that is what I fear has happened here. Cash continues to burn and no positive news since de Alba has come on board - maybe some egos are just too big for their britches (SN?).

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