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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

Post by taalon May 06, 2021 7:00pm
188 Views
Post# 33149004

Re Frank

Re Frank
I think that valuation is a bit far fetched..base on one well let's say they hit app 300....400 million boe say on the high side 400 million.. with a value of $5 in the ground give a value of 2 billion Divided by roughly 300 million shares gives a share price close to $7.00 ...now are you saying the balance of the leases Demarara Berbice and the remainder of Corentyne are worth $93...I highly doubt that...Curious to know how you arrived at that valuation by Dec 2021....Anyone else want to venture a valuation if we hit on our first well.Im thinking that our value if we do hit 400 million boe should be $7 Plus whatever value the market give for balance of leases..
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