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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 Ebenizer3on Feb 21, 2021 2:42pm
250 Views
Post# 32622142

RE:drilling down....

RE:drilling down....couldn't find any info on a drilling rig contract, and having 10mil in cash where and when are they going to get the money for drilling two wells. Fec? they already hold 78% of cgx. Wondering how likely they get anything drilling by the end of the year. I guess there hoping for one of the majors to step in? Kinda interested but they have been working on this forever. Maybe someone can shed some light. Thx
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