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 Aug 13, 2020 9:59am

236 Views

Post# 31402657

RE:RE:FARM-DOWN

Farm-down annoucement (assuming similar terms as those in Apache-Total arrangement) worth ~US $1B; or, ~US $3.33 to CGX sp.

Announcement of a discovery (post farm-down where CGX has 33% interest in both licenses and a significant carry) worth ~US $850M; or, $2.83 to CGX sp.

At this point - after initial ~33% farm-down and successful exploration campaign - Frontera has option to sell CGX equity interest at significant premium. I would assume this could be worth several billions given the above mentioned carry and no (or very little) capital expenditures required until reaching first oil.

Bullboard Posts

NervGen Pharma: Proof that NVG-291 works?