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 > Rights

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Comment by waitingstillon Oct 28, 2021 2:44am

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Post# 34057428

RE:Rights

Actually the Rights offering was a huge success. Anyone who wanted to keep their percentage intact had ample opportunity to buy 1/7 of their total shares well below the strike price of $1.63 that FEC will pay tomorrow and CGX will have $58mil USD in the bank in a day or two. What else could you ask for?! Yeesh. The SP is going to move on the news of a find and a starting point of $1.35 or $1.63 isn't going to make much difference.

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