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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 Beaner1814on Nov 22, 2021 9:30pm
174 Views
Post# 34155300

RE:Maersk Discoverer

RE:Maersk DiscovererKeep in mind there is a 30 day cushion between CGX's Kawa-1 and the start date with Shell in T&T. Would allow for carry over past 21 November 2021, which I am sure they accounted for with the scheduling of Discoverer.

Besides that any news is welcomed, especially what will occur after Kawa-1.

This is definitely an excellent opprotunity for CGX and its Management Team to update investors not only with the progress of Kawa-1 (should there be any delays), but most importantly the second drill. As there is uncertainty as to whether they will: (1) confirm Wei-1 as the new location; or (2) confirm that Demera's licence has been renewed and reconfirm that Markarapan-1 will be the next well, the value proposition of the future strategy is not realised by CGX. When we were certain that Markarapan-1 was the next step, there was a greater sense of security that should they miss with Kawa-1, then we would have another shot with Marka-1. Now there is nothing but white noise. As there is so much being withheld from investors in relation to the second drill, the longer they wait to update investors the greater risk they run stunting any added value to Kawa-1's results, positive or negative.
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