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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 westcanprideon Jun 10, 2021 11:53am
220 Views
Post# 33362712

RE:RE:RE:Board is slow.

RE:RE:RE:Board is slow.For the life of me, if they aren't going to get a new JV, why not just do a open public financing for another 80-100 million new shares and get a fresh influx of close to $75-90 million new dollars? Given the overwhelming confiedence many ppl have in Kawa-1, proper press coverage and marketing would surely get new folks interested in the company and the new shares would get absorbed very quickly. Look at ppl pumping money into way more risky stuff like Helium, geothermal, lithium, etc... a offshore play in Guyana would surely attact new folks. This money would keep CGX alive for many new wells and help remove some dependance on Frontera. Of course this will never happen since Frontera is hell bent on taking over CGX completely for pennies on the dollar (its moments like this that I have no faith in the Frontera claim that they are pushing for 'maximum return for the shareholder'... maybe for what's best for Frontera the company.. us remaining shareholders are worthless in their eyes). 

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