Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 steamfitteron May 14, 2022 10:16pm
318 Views
Post# 34684471

Working poor peoples Guyana will demand a share of the oil

Working poor peoples Guyana will demand a share of the oilThe rising prices of food, according to the FAO, is driven by several factors. Majorly, price increases have been attributed to higher price levels of internationally traded food commodities and a threefold increase in freight costs. For developing countries, the FAO has warned they rapidly rising prices of food commodities and energy pose significant challenges for poorer countries and consumers, who spend large shares of their incomes on these basic necessities. Though reamining a major agricultural producing country we in Guyana have not been spared. Increases in the cost of imported food items as well as imported agricultural inputs have contributed to the massive jump in food prices. The increases have largely been blamed on global supply chain constraints, which have driven up shipping costs while lengthening shipping times, contributing at times to shortages. For its part, the Government has sought to take proactive steps to alleviate the burdens faced by the populace. In this regard, imports were being assessed at pre-pandemic shipping rates to reduce taxes payable and curtail increases at the shelves. While good intentioned, arguably, it has not translated to any meaningful reduction in prices. In as much as there are price increases which may be out of control, the Government support, amounting to billions of dollars lost to the treasury, has not benefitted the ordinary Guyanese. Today, the Guyanese working people continue to confront escalating prices for many important commodities. Prices for important and essential items, in some instances, have more than doubled, and there is hardly any commodity which has seen any reduction in price. It appears that some in the business community, while benefitting from the Government’s largesse, continue to extract profits and super profits from our working people. It is an unfair situation to both the Government and ordinary Guyanese. There is obviously a need to relook at the current policy with a view to providing greater direct support to the working people.
<< Previous
Bullboard Posts
Next >>