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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.


TSXV:OYL - Post by User

CGX Energy Inc > DeAlba's presentation
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Comment by westcanprideon Feb 16, 2022 6:06pm
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Post# 34435684

RE:RE:RE:RE:DeAlba's presentation

RE:RE:RE:RE:DeAlba's presentationHi Dirk,
At this point, it all comes down to money. How will CGX for their share of Kawa-1, the remainder of the port, and upcoming Wei well this fall? They likely need in excess of $200MM USD to cover all their obligations for 2020. 

The share price night seems like more of a short-term holding pattern for the eventual news that has to come in the upcoming works. In fact, Frontera also looks to be in a holding pattern right now until news comes regarding funding. If a new JV comes along, share price should fly upwards. If no JV comes and Frontera decides to do more rights offering and diluting CGX shares more, share price probably tanks downward (if past history is any indicator). 

I think everyone is hoping for a JV. Guess we will see what happens. 
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