CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > Rough Numbers

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Comment by Mbxwatcheron Jul 22, 2022 11:55am

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Post# 34843336

RE:RE:Rough Numbers

I think the downside is .58 USD *1.28 = .742 Canadian.
.....and I think they just told us what they think it is.

They got 214 million for 35% of the block or 6.11m per percentage point of ownership. 6.11 X 32% retention = 195 million 195/334.5 m. shares = .58usd tangible value. I believe this is the price of this transaction

Upside: who knows...for sure the deal gets us a crack at the upside and that was far from certain before this.

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