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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 dragonfly454on Jan 28, 2022 4:41pm
252 Views
Post# 34373103

Quick analysis

Quick analysisThere is a lot of volatility in the markets but I saw worse stocks rise today so I guess we have burnout and some profit taking as individuals and some institutions balance their portfolios,also the RigMax routine work out there was not reported by our dear Company so when it came through the scenic route it was most likely misconstrued by some or most and a downward spiral ensued...anyways let's appraise what we do know. (1)SPS was scheduled to be done long before Kawa even started...so having RigMax do it in Guyana was because it was due ..insurers etc need that level of compliance to best practice etc when it comes to maintenance plus you don't want to be towing a rig that's past due an SPS (2) There were apparently serious issues going through the Santonian unconformity and probably were differentially stuck had to do some jarring etc ..they made it through sustained excessive wear to drill tip probably switched it out ,had issues with mud weights which were overcome and made it through the Santonian unconformity (3) The RigMax LinkedIn postings for the SPS is one week old and for the Top Drive change and alignment five days old which ties in with the arrival of the Anchor Handler and the slight movement of the rig which was noted a few days ago. (4) I don't think the Company would be going so long without having a good reason ..and taking in excess of one month to do 650 meters is crazy if it's not justifiable Is it possible therefore that we are now going through the Santonian H23? Which is why the response from IR alluded to nothing material to report at this time ..if so the rig is NOW in H23 ..which is crazier than anticipated but this matches the analog of Maka Central to a T ...so with no big broad selloff today means .. probably means they are now five or six days drilling into the area below the unconformity ..crazy as it sounds ..OCM as you said it's not a linear progression ...gosh when am I gonna drink the Norwegian Aquavit..already hit the last Underberg raw without making the Imperial Bulldog..... WaitingStill look out your western window you will see a guy flashing a laser pointer it's Clouder ..he is in Trally's red room ..Should we rescue him ?
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