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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

Comment by Duderrron Jul 04, 2022 7:26pm
208 Views
Post# 34800502

RE:RE:RE:RE:$380 OIL?

RE:RE:RE:RE:$380 OIL?

Always trying to put a negative spin on OYL with your misinformation. Oil industry wasn't severely underinvested for a decade leading up to 2008. Not saying your talking heads on Bloomberg are wrong, but tons of top energy analysts agree that WTI/Brent prices are already pricing in recession related demand destruction... otherwise it would be trading much higher right now. Nothing is for sure - definitely downside risks in worst case scenario of a severe recession, but definitely not a base case. 

One thing is for damn sure though, OYL is a near term trade that could turn out to be a long term play... most likely front loaded gains over the next year though. Any long term investor okay with the risk should be buying now and be prepared to average up or down based on how this trades after financing news is released. At the very least get in after financing news/before details on the Wei-1 campaign. 

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