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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 Gtboyon Mar 09, 2022 10:52pm
316 Views
Post# 34501784

One of the reasons the market is killing us

One of the reasons the market is killing usAll these news are why the maket is killing us

https://www.kaieteurnewsonline.com/2022/03/08/minister-bharrat-orders-cgx-to-honour-2022-work-commitments-on-demerara-berbice-blocks/

These guys need to get their shxt in order. The NR they issued about them seeking to explore more concessions in that offshore concession rather than carrying out their committments on Demerara and Berbice as per the Demerara PPL is not finding favour with the Government and is sending negative vibes to the market about their inability to get a JV to develop these blocks. I wish we knew what the objective of GX really was. Looks like they want to be penny wise and pound foolish.


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