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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 30, 2021 4:02pm
300 Views
Post# 33474689

RE:RE:RE:RE:CGX agm

RE:RE:RE:RE:CGX agmRapsani,
1. At this point, September will be a likely timeframe
2. logging in 3 intervals... means they will do three different logging runs once finished drilling, as the cannot fit all the tools one only one borehole assembly (BHA). Very typical. 
3. Joke. Means all companies are calling Frontera's bluff and not giving into their demands. Some negotiation tactics on their end. Now its all or nothing. Catalyst Captial (the funding partner for a large ckunk of Frontera) is finding it out the hardway that oil and gas business is very different from other sectors. There total investment in Frontera has been a utter failure thus far and they are now OK with a $100+ million dollar plus gamble with Guyana. Wow. 
4. Q3 2022.... this port is a joke. Real companies have money going into construction, etc. These guys have been talking about the port for years. Would have been nice to have a JV partner with excess cash to get this port moving forward on time. 
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