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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 10, 2022 7:47am
309 Views
Post# 34669645

Webinar

WebinarOverall, I liked the presentation. First, the fact the team was able to get Kawa down to TD is something even the majors are taking note of. Second, the oil/gas/condensate debate is answered by the decision to go forward with Wei. Would they spend another $100 million if Kawa was a dud (non commercial)? I don't think so. Third, they did double back flips assuring the protection of minority shareholders and the independence of CGX & FEC. Whether one believes it or not; Cgx appears concerned about the perception by the market. Fifth, the majors are also very interested in what was seen in the Coniacian. Lastly, Now we wait on financing for Wei which the wait will be painful if they can't get the sp to double or triple from here. Of course a favorable JV, which seems like a long shot, could solve all this. All imo. PS: the trading halt was bush league.
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