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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 westcanprideon Feb 02, 2022 10:05am
287 Views
Post# 34388778

Guess finding 177m ft means nothing to the share price...

Guess finding 177m ft means nothing to the share price...I truly thought CGX would have surpassed $5 CAD yesterday, just on momentum alone (hell, it should have.. over 5 million shares traded on a thinly traded stock like CGX, to only go up 30% is a joke I think, especially on major positive news)... well, it was well on its way until the money managers decided to play games again. Look at how the price magically stagnatted at $3.65-3.75 CAD for close to 4hrs yesterday despite over 2 million shares (all exchanges) traded at this level. Everytime it wanted to go up, new 50,000-150,000 share walls magically appeared. Then this morning, a 10% drop on less than 500,000 shares traded in the first 15min... yeah, totally natural. 

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