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.

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CGX Energy Inc > Question about value for the group

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Comment by Devanand1on Dec 28, 2021 10:49am

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Post# 34265371

RE:Question about value for the group

Coloradobuff wrote:
A lot of speculation about stock price movements.

I don't really care, I am waiting for the results of the well to hit. Once that happens, does CGX get bought out at this time? I ask as she drills did an interesting analysis of the value of the company and mentioned that she planned to hold after the hit because there is more value beyond kawa, I.e. port and other licenses.

''are you all thinking CGX gets bought out or a more longer term play?" Curious to hear thoughts on that.

I see that Cgx will need approximately 300 million over the next 6 months to meet their
various obligations on the three blocks. Unless they have renegotiated the starting date on the Demerara block, that Demerara well should be spud by February 11'th , a mere seven weeks from today.
I believe that something is in the works for this financing . Whether it is a JV or a buy-out, I really don't know. I cannot see CGX risking any of the blocks in this valuable basin.