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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 Investnowpleaseon Feb 14, 2022 10:22am
207 Views
Post# 34426101

RE:RE:CGX Energy Announces 200ft Net Pay For Kawa-1, Abandons 2022

RE:RE:CGX Energy Announces 200ft Net Pay For Kawa-1, Abandons 2022

Personally if i was the government, either you do you work on the block or you loose. Especially when your cash strapped to work this type of large scales play. They would no doubt auction it off for new revenues to another company for huge dollars. No reason for them to extend it. Dont think there would be sny reason that they couldnt farm it to someone with the means, other than the fact that farmie would know they have the companies of a barrel and take advsntage of that.  Tough position to be in. 


more interesting is they are taking forever to log and release results. Dont understand why. Shouldnt take this amount of time. Clearly way more going on than just wireline. 

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