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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 Miftee9on Apr 11, 2022 5:06pm
213 Views
Post# 34595024

RE:Rough Numbers

RE:Rough NumbersIf Sportys numbers are in fact somewhat correct and given how much FEC owns already, I think the JV is imminent. 

I say once results are in (and they confirm their previous release), there will be a bidding war between a few majors and we will get a winner to alleviate all of our future financial issues. The bridge loan is to bridge them until they get the JV done, not to drill Wei as they will not go it alone.

CGX has too much connection to Guyana Government to flop.  Imagine how it will look on the Guyanese government that they gave a port to a company that cant deliver on likely their most important Country infrastruture item ever.  No way they let them fail because that is a failure in their decision making abilities as a Government.

And don't worry about Suresh, he will be told by Government officials what to do.  I am holding firm.  Patience. GLTA
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