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.

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CGX Energy Inc > Port/Wharf

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Comment by AnMaron Dec 04, 2020 12:06pm

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Post# 32037427

RE:Port/Wharf

Devanand1 wrote: I have listened to Guyana’s President speech to the Guyana Manufacturers and services association yesterday and it is clear that the port/wharf/harbour in Berbice is one of the main infrastructure project for the country moving forward. The government seems very committed to this posrt as it is mentioned in almost every major speech that is given.
Any port build would not only be servicing the oil industry but also would be servicing the needs of Brazil as there will be a new road built from the port all the way to Brazil. Although this is a non core activity, I would say that it looks good for CGX.

Like I said long ago, the port is a project for the Government not CGX. The port will be a huge benefit to the country not just the oil explorers/producers. CGX doesn't have the money for such a project and should give up on that fantasy. Since when do Oil E&Ps build shipping ports?

Lots of backslapping and Koolaid going around here, enjoy.

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