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.

TSXV:OYL - Post by User

CGX Energy Inc

Bullboard Posts

Comment by OIL_RUNon Jun 19, 2020 5:53pm

171 Views

Post# 31171407

RE:RE:RE:RE:JUNE-15-2020: CITI UPGRADES APACHE, CITES SURINAME UPSIDE

3 billion barrels of recoverable oil (asuming similar quality, grade and properties as those of Apache / Exxon) - you are probably looking at 3 to 4 large FPSOs.

Using Citi's methodology - each large FPSO is probably worth US $26.4M to US $30.16M per 1% interest in the license. Let's also assume CGX farms down 33.33% interest for the first development for a complete carry (similar to the deal Apache struck with Total):
- Low: US $2.64B; or, US $8.80/CGX sh
- High: US $3B; or, US $10/CGX sh

Bullboard Posts

3 Mid-Sized Stocks to Consider This Season