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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 SportyJon May 06, 2022 5:52pm
370 Views
Post# 34663646

On the Contrary

On the ContraryMiftee, my friend, giant deals happen quickly all the time. Buffet handed Vicki a smooth $10 billion in what a week? He didn't have to go down to Houston for months on end to go over Oxy's data room. Lol. Also wasn't APA still drilling or hardly done drilling when Total JVd? Happened very quickly. This bus is being driven by FEC/De Alba. My odds are 10-15% of a near term JV happening. Short of a JV happening, my odds are 100% De Alba takes another bite out of CGX and it will be dilutive no question. The real issue is that Corentyne is no Stabroek. Stabroek wells take 1/3 the time and 1/2 the money vs Kawa. And Exxon gets the vital data that Kawa couldn't. This is the real problem in attracting a JV partner. Drilling on the slope is the rub. As for Monday, my guess is a smorgasbord. Something for the pumpers and something for the bashers. Will we get clarity? Nope, not with this bunch. All imo
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