Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 westcanprideon Mar 04, 2022 12:02am
237 Views
Post# 34481860

What makes a company/sports team/marriage/etc special?

What makes a company/sports team/marriage/etc special? Its the people involved!

Many great examples exist in the oil patch of companies that failed not due to lack of oil resources, but due to poor subsurface staff. Same thing happens in sports constantly (a reason teams like Cleveland Browns/Toronto Maple Leafs/etc always lose depsite always getting great draft picks). I could do on and on. 

For Corentyne and Kawa-1, I firmly do believe the well encountered a mix of oil and condensate. Unfortunately, it looks like we do not have the proper staff on hand that could design a well or pick a rig that would allow for proper sampling. Heck, this "dream team" of drillers completely underestimated the time it would take to drill Kawa-1 and hence the costs required. We then have a PR team, in combination with Suresh/De Alba, that release very half-as*ed year end results that do absolutely nothing for the share price or condifence in the forward plan. 

End of day, when a junior company encounters 200ft of net pay (oil or condensate), the share price should skyrocket upwards and raising additonal money should not be an issue... a dream scenario for many folks in the O&G industry really! Instead with CGX, everything seems to be in limbo and we have less than desirable individuals running the show. Definitely sucks. 
<< Previous
Bullboard Posts
Next >>