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 > Vergatario

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Comment by SheDrillson Nov 03, 2021 12:38am

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Post# 34080624

RE:RE:RE:RE:RE:Vergatario

Only senior managers at CGXEF and Frontera knows for certain....but based on the lease activity next door in Suriname and the fact that operators cycled back to make off market bids for blocks that weren't awarded coupled with block 58 being the best farmdown deal in a decade...I find it really hard to believe that CGXEF didn't have the opportunity to farmdown at better terms than what they got from Frontera. The problem with this situation is that Frontera will do what's best for Frontera...we're in a twisted parent/child relationship here.

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