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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 Qwerty123456on Jun 05, 2020 11:40am
128 Views
Post# 31116708

RE:'Cheap' shares available again

RE:'Cheap' shares available againI feel your frustration WCP. I personally look forward to management's explanation / rationale for why they will likely defer drilling once again in 2020 given:

1. Increasing oil demand / commodity prices
2. Low present costs associated with drilling offshore wells
3. World class oil discoveries all around
4. The fact that they have already deferred drilling twice in recent years

CGX is listed as an oil and gas exploration company and yet have not drilled a well in 7 or 8 years. They are also a TSX Venture 50 company for 2020 but it is not clear to me how they achieved such designation.

All very Interesting.
 
GLTA.
Bullboard Posts