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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 Miftee9on Jan 23, 2022 2:35pm
244 Views
Post# 34350197

RE:RE:This week

RE:RE:This weekI hope you are right.  The problem with your logic is that all the money was spent prior to hitting H23 so how can they know what they have until they get to that point?  Am I missing something?  I am not an oil person so maybe it is because they have good intel from the first secondary target to keep them engaged to this point?  Could it be they have no choice but to go all or nothing?  I dont think it is an option for CGX to bail on the drill until they hit total depth given their poor history of drilling.  What do you think?

  Still optomistic but worried.  I think this week we get movement up to the $3 - $3.50 range and no announcement until the following week saying they found hydrocarbons but no info saying whether it is commercial or not.  Release comes this week if there is a significant run either way.  Just my 2 cents.  GLTA
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