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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 Dirksidetrackon Dec 11, 2021 8:59pm
151 Views
Post# 34222445

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

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:My TakeI'm betting on they got a good well now. At least enough to attract big money. Let's face it, any big "whale" like Nexen (CNOOC) could swallow fec and oyl with it in a hostile take over right now. Who the heck is driving the sp down and why? Something is in the works. It'll be good for oyl shareholders but the question is how good. In a hostile takeover what premium would they offer to cgx and fec shareholders? Anyway we got Maersk looking for long term contract for its rig and are shopping it out and need an answer soon plus these tens of billions of dollars looking to get into Corentyne. De Alba gotta figure out the best path forward. I'll go with farm in with an Exxon or Chevron to team up with a whale to dissuade any hostile take over. Otherwise I don't see how fec/cgx isn't swallowed up. With or without a good well. The prize is Corentyne as Dfly has pointed out with his geological analysis.
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