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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

Comment by waitingstillon Nov 07, 2020 5:37am
204 Views
Post# 31856955

RE:Power of a Website?

RE:Power of a Website?Phantom - I think it is different this time. The govt seems serious. Previously they let things slide. But after Exxon's and Apache's hits, there is too much at stake for Guyana. They could sell those blocks for lots of money to the highest bidder. And cgx must know that they either pi$$ or get off the pot. If they lose the licenses, cgx goes to zero and Suresh and Tralisa lose their money printing machine. Most of the info on the website is about the concessions with lots of details about what has been done. The port is still a black box as we really don't know what it entails to build it out completely forgot and what is the business plan but that is secondary now. CGX was pretty confident of getting moved to the next phase based on what they wrote. I agree these jokers are not to be trusted but their hand which looks like a straight flush is being forced and I am betting they win even if they are reluctant to play. I am with wcp and bought a few more at 40c after their quarterly update. Let's see where we go from here but we should need to hear officially from govt.
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