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 waitingstillon Jul 22, 2022 12:30pm

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Post# 34843499

RE:RE:RE:Rough Numbers

Rough estimates indicate that we could have 750 million barrels if Wei is the success they expect. That is 250mil net to CGX. At $6USD in the ground, that is $1.5bil USD / 300+ million shares is roughly $5USD/$6CAD per share. In addition, "mean" third party estimate for North Corentyne is 2.2 billion barrels so successful Wei would derisk those barrels and that could push the SP to $10. So upside could be $10 IMO.

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