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 Ermospon Nov 03, 2021 2:33am

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Post# 34080696

RE:RE:RE:RE:RE:RE:Vergatario

Why would Frontera hold back a deal though? Perhaps they are optimistic and want to strike a better one post kawa or maybe they just can't get anything or anything reasonable now.

My line of thought is that Frontera did a rights issue. If they wanted all the shares for themselves, why not do a loan, which is what they did earlier this year? There was no provision against that again. It seems like one way to view it is that they were hoping to offload some of the financing to other shareholders, which ultimately did not happen.

I hold stock cause 3rd party assesment showed good odds. But I don't think Fronterra is showing any special confidence with their moves so much as having to pay the bills.

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