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.

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CGX Energy Inc > Prediction

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Comment by westcanprideon Apr 11, 2021 4:52pm

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Post# 32974899

RE:Prediction

Your probably not wrong YD.

Frontera is currently trading @ $6.63 CAD ($644M Market Cap)
CGX is currently trading @ $0.85 CAD ($244M Market Cap)

A 4 or 5 CGX to 1 Frontera ratio would get us up to $1.36-1.65 (or 60-95% premium). At this point, I would take it.

Let's also remember, one bad hole result or god forbid drilling problems/abandoned hole, and we plummet down to .20 cents again in a heart beat and probably never recover. Least if Frontera takes us out, we have cash flow to help to drill multiple wells.

I just hope we hear something soon. Maybe next week we get the magical news.

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