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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 Rapsanion Apr 01, 2021 2:07pm
159 Views
Post# 32924057

RE:I do not think a JV will happen

RE:I do not think a JV will happen
All valid points.   My view is we need to acquire the skill so we don't get rolled over again - right type of dril, location, etc, even for a JV.

IF there is no JV, I'd speculate either a) Frontera never really wanted one b) asking a high amount (or c) no one is interested, and that scares me).   

With a) or b) there is such high risk and such high possible reward.

Frontera held their annual shareholder meeting on May 20, 2020, so my assumption this year will be in the mid-late May time frame as well, and that point, we have updates at the lastest.
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