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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.


TSXV:OYL - Post by User

CGX Energy Inc > My Take
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Comment by Dirksidetrackon Dec 11, 2021 3:09pm
150 Views
Post# 34221994

RE:RE:RE:RE:RE:RE:RE:RE:RE:My Take

RE:RE:RE:RE:RE:RE:RE:RE:RE:My TakeYeah my financial accounting book Nedles and Powers says that all that they need to survive is working capital. Liquidity to pay the bills on their own without having to borrow, issue more shares or sell assets. JV or farm-in. Who will it be? Some jerks trying to steal the assets at cheap price by trying to crash oyl. Not working. Oyl got serious sp support. Company with minus 48 million deficit in working capital as reported by CGX themselves in their financial statements dated Nov 3, 2021 worth over $1 per share for over 330 million outstanding shares??????? Show me any company with negative working capital like that which hasn't already been dissolved and delisted. Naw man they got something there.
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