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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 stark15on May 08, 2021 10:16pm
327 Views
Post# 33161100

my 2 cents *********

my 2 cents *********Given the options/facts on the table....i think WS and Oil Run pretty much tell the story of what will happen in the next few months.....this is not DeAlba's 1st time around the block....look at his resume.....as he has stated many times, he looks to "maximize value for our shareholders".....i agree with WS that i think there are 2 or 3+ major companies 'wanting in' and when u have that kind of attention, imho, the cards r in your hand....the way Oil Run laid it out, again imho, DeAlba would be a fool to take on a JV now.....they have the money and expertise for the 1st drill, which has been highly derisked.....why wouldnt u drill without a JV, get the results u almost know u r going to get (nothing is 100% i know), and MAXIMIZE the reward to shareholders......imho, its a no brainer.....and yes, the down side is once again, cgx shareholders will have to wait a little longer for their pot of gold (but not years, we r down to months now!)....there will be no spike for a JV signing although there will be a little run up to drilling.....we are right there fellow shareholders, just hang in a little longer and dont stress yourself by disecting EVERY little detail.....we have the right guy in charge and in place (FINALLY)....we r locked and loaded (drill rig secured).....our reward is at hand....GLTA !!!!!!!!
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