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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 Dirksidetrackon Aug 30, 2021 6:44am
214 Views
Post# 33780582

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Spud

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:SpudYes it helps a lot! Thanks. I'm just wondering why CGX needs a partner. They could simply sell the oil in ground. They don't have the in-house expertise or experience to produce offshore. A partner would have to produce it. I'm guessing that a partner would prefer buying it outright. And CGX as well might prefer it. That way they could use the money to find more oil fields to sell and more importantly build their deep water port. Turn-around time on those supply boats to Trinidad must be a at least 10 days. It really complicates the logistics and makes supplying the operation very expensive. Deep water port would probably cut time and cost by half. Huge value to the operators and a lucrative revenue stream for CGX. Have everything there -liquid mud plants, barite/gel/cement silos, warehouse, workshops for all the service companies. A proper oil field complex/docks like the one in Luanda, Angola that I saw. I'm getting ahead of myself because first they have to find the oil but if they do this stock may be a long term keeper depending on what they decide to do. $2 per barrel in-ground sounds very cheap. I'm thinking more like $5 at $50 per barrel Brent or WTI.
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