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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 Jul 28, 2021 11:33am
246 Views
Post# 33616749

RE:RE:RE:RE:RE:RE:Here we go!!!

RE:RE:RE:RE:RE:RE:Here we go!!!Does anyone have any ideas what Frontera's actual end game plan here is? Its clear they hate the higher current SP. Everytime it goes up, it is brought done on small sells. If it wasn't for the late June push upwards (which I still think Frontera coordinated to a large degree in hopes of making a potential JV partner antsy), we probably would still be at low $1. 

My fear is that minus a small bump next week (in the event a real spud is announced), CGX share price will stay at this mid to high $1 range. Not exactly that great for everything Kawa-1 (plus port, Demerera, etc) has to offer. 

Maybe I am crazy, but i also think Frontera will also supress any big share price jump in the event oil is found. I truly think they are 100% selfish and want the entire opportunity for themselves. If economic oil is found, I think they would be very upset to have to pay CGX any major premium for extra % of the licenses or even CGX shares via loans. I know this sounds crazy, but Frontera (Pacific Rubilaes) screwed CGX over before and they are doing it again in real time. I hope I am wrong, but being literal days away from spud should not being seeing the share price barely move in the right direction. Makes no sense. 
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