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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 taalon Jul 13, 2022 7:01am
374 Views
Post# 34819962

Re share price

Re share price
Thanks for your comment...And Respect is mutual...Now as far as these high profile hires receiving options ...to me that is quite important...Take Mr Durkee ..was vice president of exploration and development World wide deep water drilling for Anadarko...Would you think he came over to Cgx for his salary ....The money is made in the options they recieve...and I assume that they must like what they see before coming on board..As far as Ms Budlog...1/3of her option vested immediately 1/3 within 6 months and the balance within 1 yr...she could have sold ..she was hired Mar.2021..Perhaps she received a better offer from Hess.. As far as Fec pay $73 million for shares at $1.63 to me that is significant..Those rights were offered to All shareholders...but if you remember..they were offered in Sept 29 and expired Oct 29 or 30th..Only for a few short days 3 in fact at the beginning did the share price exceed $1.63 on very low volume...so for the majority of Oct ..share price traded between $1.45....$1.20 So why would any shareholder participate in rights offering when you could buy on the open market for less... the share price was manipulated down to ensure Fec would take up the Entire offering ...which they did...To me that was significant....The share price has been brought down on very little volume...I do see the possibility of Fec doing a share swap with cgx and with our share price sitting where it is Fec may be counting on shareholder not initiating any legal action but Accepting what deal may come ....of course being in Thier favour... It makes No common sense whatsoever that our share price should be at this level...
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