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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 waitingstillon Apr 08, 2022 11:17am
244 Views
Post# 34587891

Loan terms

Loan termsI think this extension has nothing to do with what offers have been coming in. How could it when all the data is not even back. Companies are not going to be throwing out offers without complete data so that assumption is premature imo. It is more likely to do with either tsx regulation and/or a realization that it would be unreasonable to complete a JV and get govt approval within such a short time frame when data is taking so long to be completed. This buys CGX another year. Not sure how/why people are taking it as a negative.
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