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 > Possibilities.

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Comment by OIL_RUNon Oct 21, 2021 3:42pm

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Post# 34034263

RE:RE:Possibilities.

See attached link that provides an overview of how typical investment banks evaluate exploration basins.

Take recoverable mean resource size (assume 1B) * CGX's interest in the license (67%) * value of oil in ground ($5 to $8.5). Then divide that number by shares out (roughly 340M).

If successful, there will be upwards adjustments across the remaining prospect inventory using mean resource average.

You then apply a risk factor on those remaking prospects.

So, a billion barrel resource discovery in the Guyana-Suriname basin is probably +$10 event for CGX -
in my opinion.

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