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 > Face it

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Comment by Hoorayon Nov 05, 2021 10:22pm

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Post# 34095042

RE:RE:RE:Face it

Hypothetically speaking……knowing their (CGX/Frontera) financial position it was always known they don’t have enough to see this to fruition. The best option was to gamble everything on Kawa-1 alone and have interested parties bid for a complete takeover of CGX (not Frontera) pending a commercial find. That way Frontera gets 80% of the buyout to continue being a partner in the block…..maybe this can be billions to further their share in the development of the block and the partner becomes the operator. Hence the next well is named WEI-1………..the plot thickens….

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