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 > Wei-1

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Comment by soulfireon Feb 17, 2022 8:42am

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Post# 34437370

RE:RE:Wei-1

Does sound like they are prepared to go it alone although they keep stating "we are actively looking at strategic financing options" .
My fear is, because Frontera will backstop these Wells financially, Suresh will just be his usual self and not care about bringing in a JV or even make an effort to get one. He is neither a financial nor an oil and Gas person. Great gig to have.
Once Frontera remains a shareholder I guess it doesn't matter though.
Just my take.

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