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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 AnMaron Dec 03, 2020 3:40pm
113 Views
Post# 32030509

RE:RE:RE:RE:RE:RE:RE:Concerns

RE:RE:RE:RE:RE:RE:RE:Concerns I believe Elliot Management made that investment prior to drill results on the Kaieteur block being released; results weren't favourable. Do you think Elliot Management would still make that investment today? Exxon has further drilling there on hold now pending analysis of results. It's possible that Exxon may put off further work there for quite some time.

They took a gamble and it failed for now so I don't think you should be looking at CGX with rose coloured glasses.

As for your investment style being similar to Warrent Buffets, not even close, he wouldn't touch a company like CGX, nor would he watch his investment sink into the abyss as many here have done. CGX is a long shot and a bad one at that given current management's track record.
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