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 > CGX is a milestone around FEC's neck. CGX has no cash

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Post by drunk@noonon Feb 03, 2022 11:19am

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Post# 34393190

CGX is a milestone around FEC's neck. CGX has no cash

FEC has 100's of millions of freecashflow coming through the door. They are carryiing CGX's share for the cost overrun. AND they will get hurt as CGX dilutes to raise their share of the funds going forward.
So what is the plan for CGX to raise captial to pay their fair share.
How long is this going to take?
How much dilution is going to take place.
Get on with it, raise your share of the cash.

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