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 > Wouldn’t they already know results from primary target now?

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Comment by Ermospon Oct 21, 2021 2:46pm

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Post# 34033973

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Wouldn’t they already know results from primary target now?

Yes, they have no means to produce, so either they have to develop that capability (and reduce their price per barrel slightly + take on huge execution risk) or farmdown to someone who can produce (reduce their price per barrel by at least 30% and avoid execution risk).

Or they can be bought out. Not sure what happens in that scenario

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