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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 SheDrillson Nov 02, 2021 8:27pm
174 Views
Post# 34080047

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Kawa Well

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Kawa WellIMO SP is dropping because this is a thinly traded stock with no institutional support.  Likely many people are getting exhausted and panicky the closer the well gets to landing.  Maraj trade really creeped a bunch of people out.  New people likely bought the dip and when the stock didn't immediately rebound to the rights price they said F'it and moved along.  Doesn't take much F'it to pull down a thinly traded stock.  Then we saw a large order execute this afternoon...was that a panic seller or just someone's stop loss trigger getting activated?  That we don't know.  What we do know is the location of well, the success rates of wells in the area and the average size of discoveries...those factors are why I'm in the stock.  I'm not going to let irrational stock behavior in a thinly traded stock shake me from my convictions when I'm also confident that there is no way we have drilled into the primary target yet. The catalyst is ahead of the bit.
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