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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 Rapsanion Jun 30, 2021 3:49pm
354 Views
Post# 33474602

RE:RE:RE:CGX agm

RE:RE:RE:CGX agmWhat a let down was my initial though.   After I thought about it more, I focussed on the facts:
1. Rig will arrive in Q3 with 1 day to anchor
2. Logging in 3 intervals ..  my take is drilling 3 distinct areas with one drill
3. Data room is not active (which I believe means won't consider farm out, etc until after the results, thus we are going at it alone with FEC)
4. The Bervice port phase 1 will start operating in Q3 2022; phase 2 (containers) will start operating at end of 2023.  Question was asked on projected revenue and they said they have a business case but won't share that info.
5. No comment regarding the 2nd well, as of yet.

I think all the motions they recommended passed. Would like to see the results through.
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