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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
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Comment by westcanprideon Aug 25, 2020 11:00am
146 Views
Post# 31449981

RE:RE:RE:RE:RE:soulfire

RE:RE:RE:RE:RE:soulfireYou make good points.

I suppose my viewpoint was that powerful insiders would push for more than company survivial (depsite all the setbacks in the past 20yrs). Yes its great CGX is still alive, but we have made it sound like drilling for oil in Guyana is the most challenging task in oil history.

Thank god ExxonMobil, Apache, and Tullow (and associated JV partners) have shown technical and business abilities needed to drill for oil in the Guyana-Suriname Basin. Hopefully one of them take over the Corentyne and Demerra land real soon and leave CGX as a honorary placeholder (say 10%). This realistically will be the only way Guyana will ever see oil revenues from these land holdings in the next 10yrs. With that, even 10% land holding and fair compensation for the land would still be a tremendous coup for us shareholders. 
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