CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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

CGX Energy Inc > thoughts

<< Previous

Bullboard Posts

Next >>

Comment by westcanprideon Jun 06, 2022 2:21pm

285 Views

Post# 34734785

RE:thoughts

I love it personally.

Both CGX and Frontera have progressed this offshore opportunity at a incredibly slow pace. Its embarassing really. Enough is enough. Anyone who thinks differently clearly has rose colored glasses on.

Perhaps more importantly, Mr. Jagdeo knows neither company has the funds to develop any oil field into development. In essence, he knows Guyana will never seen one dollar in taxes or royalties so long as CGX and Frontera keep ownership of their respective blocks... so yeah, he knows a JV partner is sorely needed here going forward. Hopefully it happens ASAP.

<< Previous

Bullboard Posts

Next >>

The top 10 Canadian medical stocks