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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

Post by BoDidley5656on Dec 16, 2021 9:37am
281 Views
Post# 34236277

Hi sparky

Hi sparkyWords might be huge but do not carry much meaning when you have 9 billion barrels discovered to the north in a different reservoir and discoveries to the east in Suriname in a different part of the basin.   Be careful playing the trendology game.   I am not saying its bad news but I would like to suggest caution as the big words do not mean oil has migrated into the lower reservoirs yet to be drilled.  Its still a little bit like going to the roulette table in my opinion.   Again, dont bet what you cant loose!
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