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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 lexxus296111111on Nov 05, 2021 1:52pm
197 Views
Post# 34093177

RE:RE:reputation *********

RE:RE:reputation *********I wouldn't be surprised to know that we are much further along than the 78% they communicated. And their plan is to do something similar to what Apache did. Create a buffer so they can finalize a deal while everyone else thought they were still drilling. Apache knew the results, and spent time finalizing a deal while everyone thought they were still working on the exploration well. Pretty smart. I think they CGX/Frontera already encountered oil at the first target. And that is why they felt comfortable enough to mention the Wei-1 in the quarterly report.
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