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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

Post by chulo123on Feb 19, 2021 6:05pm
327 Views
Post# 32616329

Money

MoneyThere are so many examples of how companies find money to develop their own projects.
Certanly, it is better to have a high SP and De Alba knows it better than us.
Recently INO(Inovio pharmaceutical ) closed a public offering and common stock and full exercise of option to purchase aditional shares. The gross proceeds was 170 millios dollars for 26 millions shares.
If we make a public offering of 25 millions shares at 1,2 dollars per share I am sure we will find the money to do our drill commintments.
That number of shares would not dilute much our cake and would surely give us much more than what it would cost.
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