CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > On the way?

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Comment by waitingstillon Aug 12, 2021 12:49pm

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Post# 33694521

RE:RE:RE:RE:RE:RE:RE:RE:On the way?

There is always risk (operational, financial and geological) so unless you don't care if you lose it all, you probably should have some exit strategy. Give the risk:reward ratio here, I want to have a lot riding on the drill result but I have been here too long to come out empty handed. I will probably sell 20-30% of my holdings as we move towards the drill result. As I am currently up more than 4X, that should take out my investment plus some and leave a good chunk for fireworks if we are so lucky to hit commercial oil. Enough to be life changing for me. But still have my original investment out to fight another day if things go sideways.

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