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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 waitingstillon Sep 26, 2021 9:38pm
281 Views
Post# 33921587

RE:RE:RE:Question

RE:RE:RE:Question Lol. You and most others including me, had a $3 target to unload some. Would have been a rush to the exit. I am going to wait this out for a while. Will probably make my decision around Oct 21 to make sure I have time to do what ever I can. My brain says that there will not be enough buyers at this to prop up the SP above $1.63 as too many may try to arbitrage this. That will cause it to collapse quite quickly and eliminate much benefit to sell the Rights as well. But my brain left a little space to believe that now all pieces of the drill are solved and secure and we are half way down without a hitch and money guaranteed at a pretty reasonable cost many more will want in and hold the price or maybe even get it to run a little. In that case it would make most sense to buy the Right if they significantly underwrite the stock price. Remember, by Oct 21, we will be only a few weeks aware from where our drillers tell us we will be on top of the formation. Hopefully FOMO has set in and we are much higher than $1.63 so it could be a no brainer. We have to wait... still... unfortunately
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