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.

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CGX Energy Inc > Re Fronterra shares

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Comment by chulo123on Jun 22, 2022 9:23pm

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Post# 34775872

RE:Re Fronterra shares

When we completed the drilling of Kawa, CGX’s stock was trading at USD2 and FEC’s at about USD8, i.e. 1/4 ratio.
Today this relationship is 1/10
One of FEC’s biggest problems is that its Colombian assets are at risk because the new president wants to stop oil and gas exploration projects.
This generates a distortion of the price today. Although this 1/10 ratio may be fair today, six months from now when Wei is favorably explored and its assets in Colombia are devalued, the ratio should be at ½.
I do not think this is a good time for CGX to sell.

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