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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 Dirksidetrackon Feb 03, 2022 11:17am
127 Views
Post# 34393178

RE:OK for JB ..Jenny

RE:OK for JB ..JennyWell people have been vexed over where they'll get the money. They can convert the $19 million dollar loan at 69 cents US, if memory serves, for close to 27 million shares that oyl has set aside in their treasury. Sell them plus about 20 million or so more shares in a private placements for say $5 then they got about $200 million. Why do they even need a JV? Just keep on drilling and discovering until they get the JV deal that they like.
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