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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 Oct 20, 2021 8:51am
253 Views
Post# 34026140

RE:RE:Manipulation Game Theory....

RE:RE:Manipulation Game Theory....Wow. What a manipulating bunch of folks working at CGX/Frontera/Catalyst Capital. Let's make no mistake, this whole drop in share price was coordinated by Catalyst Capital via shorting the stock and they are now taking it too a whole new level.... Over what... ~40million new shares at what should be a new baseline of $1.63? No way the market was that upset over the news. Catalyst just knew they could manipulate the bloody stock and make some easy cash.... especially with their puppets like De Alba at the helm. If the whole goal was to gain extra shares for Frontera, why not just do a simple loan as announced back in April? Especially if they knew >95% of the folks would never exercise their $1.63 share rights? Because Catalyst got greedy and knew they could manipulate the share price down quite easily from $1.90 and make some easy cash. And like others are now pointing out, a new baseline at $1.63 will be established and that serves as a cap on the share price going back up short term, thereby allowing Catalyst time to cover their shorts. In the meantime, god only knows how far the share price will keep falling before Oct. 28 and the closing of this rights offering. As for CGX CFO trading shares, god only knows why she did it. The fact she only had ~80,000 shares after all these years is pathetic. Guess when you make a flush salary and are giving tons of cheap warrants that do not expire for years, there is no reason to buy on the open market. At any rate, CGX/Frontera should release a statement saying what is going on... never will happen sadly. Frontera will be getting ~40 million new shares at $1.63 and that the CGX CFO goes and sells her shares at $1.50... is she crazy or what? Or if she does know what is going on the rig, and decided to sell because of poor results, then Frontera will likely be quite upset as they will be buying a lot of new shares at a much higher price than what CGX would be valued on the open market with a poor well result. I don't think this is the case though... I will leave my thoughts on her as an individual out of this discussion. End of day, its the actions over the past couple months (and years, lets be real) that have probably manifested themselves with any JV discussions CGX/Frontera have had with external companies over the past year. Look at these sleazy games being played right now to make short term profits on a bloody penny stock! Guaranteed these jokers were trying to play these same games with real executives at other oil companies and they were rightfully shut down. Actions and integrity matter, especially in massive JV deals... and none of it exists among these management teams (least too many shareholders like myself).
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