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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 westcanprideon Jul 06, 2022 11:26pm
165 Views
Post# 34807290

RE:RE:RE:Who is in charge?

RE:RE:RE:Who is in charge?Great links Schreibzey! You have had a great day in that regard! Cheers. 

Its clear Jagdeo and Suresh are very close... certainly helps explain why Guyana government went to great lengths to keep CGX Energy afloat all these years, among many other reasons. 

What I am not clear with is how is De Alba exploiting anything with Suresh/Jagdeo? Is relinquishing two land blocks part of his master plan to add extreme value? Is overseeing a delayed port part of his plan to add value as well? Is constantly undervaluing CGX shares, and by extension Corentyne license, part of his master plan as well?

Look I get it.... many folks are impressed with his stupid "dealmaker of the year" award and think he will add tremendous value to CGX... over 2 yrs of work suggest otherwise. In other industries, yes, he probably is quite accomplished and would be a worthwhile person to have around. But with O&G, he is completely out of his league and looks like a fish out of water. The simple fact is that its a godsend that Suresh and Jagdeo are quite close, otherwise CGX would likely be toast. Unfortunately, De Alba has done absolutely nothing to help the government-company relationship and the recent block relinquishments and port critiques in the media are two examples. 
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