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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 westcanprideon Jun 04, 2022 11:59am
368 Views
Post# 34731685

Frontera: New CFO

Frontera: New CFOFor those who missed the recent CFO change at Frontera:
https://www.newswire.ca/news-releases/frontera-announces-chief-financial-officer-cfo-transition-and-changes-to-committee-membership-827448041.html

His work background (link below) suggests he has no direct oil and gas experience, other than being on Frontera's Board of Directors and overseeing the Audit Committee and Compensation and Human Resources Committee. 

https://theorg.com/org/frontera-energy-corp/org-chart/rene-burgos-diaz

Again, its one thing to have business experience and finanaical background... its a complete other when none of it is related to oil and gas (similar to De Alba). Definitely something else when the biggest players (CEO, CFO, etc) in both Frontera and CGX have virtually no prior oil and gas experience. This kind of setup is almost unseen in any other serious oil and gas company that I have followed over my lifetime. 

To this end, let's hope like hell these guys start listening to the technical staff they have when it comes to the pieces needed to seal a JV. To me, its one thing to have a business and financial background.... its a complete other when it comes to engaging external companies CEO/CFO/COO staff who have lived and breathed oil and gas for well over 30yrs of their career and know the industry inside and out. 

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