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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Comment by Gtboyon Mar 11, 2022 8:03am

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Post# 34505805

RE:News

This is very positive for us in many respects. It shows the confidence in FEC in the future of CGX. No investor will want to throw away 35m at a deep discount if they didnt feel strongly that the share price is going to reach and exceed 3.10. although I do say that the interest rate is quite high so thats how they will be compensated for their risk of 3.10. Also lets note the statement that its "secured on all the assets of CGX".

At any rate this news could not come at a better time, we need this share price to go back to $3.00. That may not happen immediately but it will.

Good for us longs. Keep the faith

Gt

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