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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 Dec 16, 2021 9:22pm
269 Views
Post# 34239207

RE:RE:Financing

RE:RE:Financing

Would have to say more regular updates would be welcomed. The frequency though would need to be measured as daily/weekly updates would suck the wind out of the sails, while what we just received (which was over 1 month) definitely let investor interest stagnate. As speculated previously the last downturn has yet to show its players, but I would hope that a release following completion of Horizon 23 is on the table as it was the target discussed most by the drilling team during the investor call. I would for sure hope that Management plays its card following that target if it is a positive outcome as that would be a fire starter to completion and to back any news on financing. 


I am still hopeful that the slip of Wei-1 by good ole Trisila was a sneak preview of JV discussions. She should write a memoir following Kawa-1 titled: "I snubbed you once (shame on me), but left you with a departing present".

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