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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 soulfireon Jul 22, 2022 8:17am
240 Views
Post# 34842506

Good News

Good NewsWell, I think this is good news. The majority of the uncertainty regarding financing is put to bed.
We get a full carry, as well as loan forgiveness and some cash to way I read it.
Wei1 will be a slam dunk IMO and if we get a farm in partner after this all bodes well for CGX.
A farm in at that point will have to pony up some MAJOR cash, expecially if it's with a Major.
We all knew we would have to give up some to get some. Given our present financial position I feel very positive about the news.
My opinion only.
GLTA
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