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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 fottomon Apr 27, 2021 2:50pm
156 Views
Post# 33075783

RE:TIC TOC

RE:TIC TOCFIERO, I don't see the motive for holding the price back either.  Assuming they are engaging with multiple parties for a JV positive price movements would add to the urgency of securing a piece of the pie for interested parties.

We are left with the burning question of why a JV hasn't been secured already in the past several years and particularly now that it is drill time.  Shouldn't ompanies should be crawling over each other to get into the Guyana basin?  Asking price too high?  I wish I knew.  Man it would be cool to see what deals have been proposed.

Can't wait to see how the next couple of months pan out.  Best wishes to all of you long time believers.

FOTTOM
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