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 > DOG & PONY SHOW

<< Previous

Bullboard Posts

Next >>

Comment by soulfireon Mar 09, 2021 11:14am

175 Views

Post# 32752407

RE:RE:DOG & PONY SHOW

I think if a Rights offering was done it will be good and bad for us. It may mean that we do not have or cannot negotiate a meaningful JV which in turn means that the new 3D seismic is not as great as we think it is. How will the market view this is anyone's guess.
They need a JV as the operator. Frontera does not have any offshore experience and I don't believe they will leave it up to CGX even though they added 2 staff in this area of expertise.
I sincerely hope they can get a JV who can inject some cash and carry us for at least a couple of drills.

<< Previous

Bullboard Posts

Next >>

Global Tungsten Market and Supply Security