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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 AnMaron Mar 26, 2022 1:06am
610 Views
Post# 34547698

WEI in ~4 months

WEI in ~4 monthsHave any of you ever been to an affluent city that has a squatter village right next door (it's quite something to behold)? CGX is that squatter village.

I'll bet the .12 increase in CGX today is due to the increase in FEC, but I don't see any connection there; y'all know FEC made a discovery announcement today right? Nothing to do with CGX.

One would think the most sensible way for FEC to fund CGX would be to take a larger percentage of the the various tenements; beats me why they aren't doing it that way. Maybe there is some kind of tax advantage to the current strategy. This whole ordeal  has become so convoluted that few can figure it all out anymore. I don't think FEC will be converting any lent dollars to shares @ $3.10/share... I'm thinkin' you CGX'rs are gonna get FEC'd because there isn't anyone dumb enough to JV with this circus show.
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