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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 Dirksidetrackon Jun 27, 2022 6:35pm
297 Views
Post# 34785962

Consolidation

ConsolidationIs happening right now. The "long trap" has been set. Longs can't sell without creating a devastating sp drop where they'll end up screwing themselves. So to avoid screwing themselves they're slowly bleeding their shares for sale for anything that they can get. That's what's happening. Longs slowly bailing out. At some point someone could come in and offer shares at say 25 cents per share. Crash the sp. How many shares at say 25 cents ask would be necessary to sink the sp? 100,000, 300,000 one million? So it comes down to whether the longs think that the value is much higher than market. The apathy on this board tells me that most will condolidate for pennies. Bunch of dumb f's.
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