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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 stark15on Apr 29, 2021 3:04pm
178 Views
Post# 33094945

RE:Getting a little excited

RE:Getting a little excitedWS.....I think we are all getting a little excited....the agreement for the rig states the parent (FEC) is to provide a 'Deed of Guarantee" by May 1st so I wasn't expecting any JV announcement until after May 1st....my guess is we will have a JV announcement in May, most likely in the next 2 weeks...so a spike of some kind when the JV is announced and then a steady slow rise until drilling starts.....imho, we will drill in July, then drill Demerara after Christmas and sell within 6 months of the 2nd drill after our amazing results are realized.....Oil Run isn't quoting Exxon describing this basin as a 'fairy tale' for nothing.....as he said in his last post, "would imagine all who have held cgx shares will be greatly rewarded".....I would finish with GLTA, but I really feel at this point in time, its just a matter of time and not luck!!! Cheers to everyone!!
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