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 > JV will focus significant exploration opportunities

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Post by FatsDominoon Feb 14, 2022 11:12am

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JV will focus significant exploration opportunities

"the Joint Venture will focus on the significant exploration opportunities in the Corentyne block"
These significant exploration opportunities will take SIGNFICANT amounts of cash.
Cash that CGX does not have.
This is your fair warning that a huge DILUTIVE financing is incoming.
PP at $ 2.60 would be amazing for CGX. But I'm thinking of revising that pp target lower.
Good luck and DYODD

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