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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

Comment by AnMaron Apr 08, 2022 11:59pm
193 Views
Post# 34590054

RE:RE:RE:Re Kahuku

RE:RE:RE:Re Kahuku
waitingstill wrote: Seriously? They were not the operator of the block. It was Repsol. CGX backed into their 25 percent stake by buying out another company. Repsol did not want CGX hanging around so they let the lease lapse and then picked it up after everyone else was dropped out. Then they brought Yellow back in leaving CGX out in the cold. It was "dirty pool" as evidenced by the court decision in CGX's favor although it was a measly $1mil or so. CGX management has screwed up enough that we don't have to add other's doings to their sh!t list. Lol


other's doings? BS - just because you sign an agreement it doesn't release you from monitoring that agreement. Who said CGX was the operator? If that is how you monitor your investments/gamblings then you are surely sunk.

Lol waitingshill - you must be cut from the same kind of stupid that CGX management was if you would release them from having any responsibility for the license lapse. Sure, it was under-handed for Repsol to have let it lapse and then renew on their own, but it was likely done because they recognized the weakness and lack of interest the management team showed, hence the the $1M award, which would have otherwise been much higher. It's no wonder you are still waiting after so many years, still losing, after a 1 new for 10 old rollback. You clearly haven't learned much after all the years stuck in CGX.
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