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 > CGX looking to spud Kawa-1 well later this year, forging ahe

<< Previous

Bullboard Posts

Next >>

Comment by Devanand1on Feb 10, 2021 4:32pm

188 Views

Post# 32529082

RE:RE:CGX looking to spud Kawa-1 well later this year, forging ahe

I do not have any inside info, but financing the port should not be a major problem. The local banks would gladly finance that port and the local banks are looking for lucrative viable projects to finance.
The port land is an extremely valuable real estate as it is close by to the recently announced Guyana-Suriname bridge. It's value skyrocketed when the new bridge was announced. So this is an important assets to CGX.

<< Previous

Bullboard Posts

Next >>

Eminent acquires promising Nevada gold project