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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

Post by oldcompanymanon Oct 19, 2021 9:36pm
247 Views
Post# 34025316

Disclosure of informationa botu the rights - for OIL_RUN

Disclosure of informationa botu the rights - for OIL_RUNHi OIL_RUN,

Regarding your question on the ST board (copied below), you ask a legitimite question and the ethicallly expected answer would be "of course" but in reality I would think they have no such duty or at least the stock market has no way to enforce it; how the heck shall an empty suit regulator sitting in Toronto gonna know when the guys went through the payzone...?

On at least one occasion I saw a press release come up not days, not weeks but months after I finished drilling it, seriously. It was a different ballgame, it was just an appraisal well (no high stake well such as this one) and for a supermajor (so it had absolutely no impact on the SP and there wasn't a nail-biting community of investors sitting and waiting for the news) but anyway, for all intents and purposes it was a well that added reserves and therefore value to the company and they couldn't be bothered (for whatever reason their empty suits at the HQ may have decided) to communicate it. And it was a supermajor listed among other places in NY.

Therefore, my answer to your question would be "no".

GLTA,


Question: If CGX confirms they have encountered pay in the campanian during the rights offering - do they have a duty to disclose that information to shareholders during the rights period? Or, can they withhold material information until the rights offering is complete? Hmm.
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