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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 tiger77on Jul 13, 2020 8:56am
80 Views
Post# 31259343

RE:Completely Dead Money

RE:Completely Dead Money

WCP, I really don't think you should be invested in CGX.  You are way too emotional for this stock.  It is a high risk, high reward stock and you are getting too frustrated too easily with it.
 

The elections saga has nothing to do with CGX and none of the companies in the basin can get anything done while this goes on, including CGX but that doesn't take away what the basin is, companies that want to get in etc.  It's just a matter of time before it all settles and there will still be as many companies that want to get in if not more as things stabilize as there is today.

Remember this is not 2020 / 2021 play.  Anyone partnering is forward looking at like 2024 / 2025 or so with drilling to development.  Yes, it really sucks that COVID has happened, world demand has gone down, election fiasco and other things have slowed down our "hopeful timeline" but try to look at the positives.  The fact that CGX still in business is phenominal as lots of other companies both big and small have fallen due to COVID but we are still here.

Some of us here have very large positions and I don't believe anyhing has changed other than more delays.  Yes some are the companies fault imo and others are so far outside of their control it's not even funny.  

Yes it sucks, yes waiting is not my strong suit but I think you need to take a step back, take a breath and again come to grips with this is high risk high reward.  If you aren't prepared to lose any or all of what you have you should get into something safer but I for one will be here (god knows after all these years) to finally cash in not for a buck or two but to really make this pain have been worth it and something substantial for retirement.

Chill, relax and just let it unfold the best you can as it's all out of all of our hands.

Just my two cents!
 

GLTA

Bullboard Posts