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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 Jun 22, 2021 7:16am
340 Views
Post# 33425815

JV

JV
WS I believe we had discussed this in an earlier post..Cgx is in need of money for thier share of the drilling...The money will either come from Fec...or via a JV...When I posted this our share price was being held in that 88....90 range.Our discussion was that if Fec was financing the deal then that was most probably the reason for the share price being in that range.....But if the share price started to move ..like it has in the last week or so that there would be a good possibility that a JV was coming....I still believe that to be the case...The only other reason for this move would be a public financing (private placement) or a bought deal financing at a pre-determined price.....But I highly doubt it....I believe we will get a J.V
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