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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 SportyJon Apr 13, 2022 8:47am
131 Views
Post# 34599575

RE:RE:Flip a Coin

RE:RE:Flip a CoinMorning Dirk. The garden here is doing wonderful as I hope yours is as well. Gonna disagree with PlainViews assessment that a JV takes a long time. Total in blk58 is evidence of that. Additionally, my experience is that good prospects are easy to sell. Great prospects, like with a well already down and delineating things puts you in the cat bird seat. Companies line up and they line up fast selling themselves to you! That's the rub here. Cgx and the majors already know what Kawa achieved or didn't. Liza 1 did get the critical data (no DST by design). Staebrok geology is much different from Corentyne. The JV holdup imo is this HTHP situation. Just to run a DST (much less MDT & sidewall cores) can be done but it's really a technical challenge. Majors are a confident bunch and prob think they can do anything. Dirk, you'd be better to explain than me. But I don't think there's a cgx long around that doesn't want a JV and turn these challenges over to a major. Again, it's ALL about IF Corentyne is the real deal, finances are not a problem in the very short term. In summary, the majors already know, it's us retail folks that are in the dark. All imo
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