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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 dragonfly454on Feb 14, 2022 10:57pm
440 Views
Post# 34428664

Claritin-D

Claritin-DGood night ladies and gentlemen, First some clarity on the Demerara Block,I am pretty confident that CGX is not going to relinquish that block.Kawa does not derisk the play type on the Demerara Block ,Joe and Jethro created more questions to just assume that the CGX section has light crude migrating updip from the Stabroek Block can only be really established by drilling only ..at this time CGX needs finance to do that ..Kawa has significantly de-risked Wei-1. By drilling an exploratory well at Wei-1 will add significant value to CGX by confirming what we know and it is very similar to Kawa and there is also Lau-Lau nearby .CGX and FEC would always have to team up with a major to take these resources to Production so by moving to Wei-1 is a very tactical move for 2022 and is in keeping with maximization of Shareholder's wealth plus prudence and common sense.The Guyana Govt would appreciate this and CGX will be granted that extension on the Demerara Block ok.No worries here mates. News on Kawa is being filtered and the Share price is whipsawing a bit but the trajectory is there and a floor is being hammered into place ...CGX would not be focusing on Corentyne Block and the Western flank of the Berbice Canyon if they had not the fullest confidence of having unlocked the mystery of the Berbice Canyon ,the counter regional dip and the turbidites around Eagle area ..so we are now with a narrow focus in the short term and that is Excellent ...CGX in my opinion should be valued around $4.5 billion very soon just watch it..200 feet of pay is remarkable ..but wait on Wei-1 and Eagle Deep and see how this flies..CGX Longs HOLD and buy dips ...and to the Shorters ..sell short as much as possible it's always good to learn...
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