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.

TSXV:OYL - Post by User

CGX Energy Inc > Rough Numbers

<< Previous

Bullboard Posts

Next >>

Comment by waitingstillon Jul 22, 2022 12:35pm

200 Views

Post# 34843515

RE:RE:RE:RE:Rough Numbers

Yes, unexpected events can occur. To some extent, that has been factored in. Wei is projected to cost $90mil from what I recall. CGX is carried up to $130mil so they have put a $40mil buffer in there. So I think that does cover some of your concern. Yes, they could totally eff it up and then we are in trouble but that is the risk. But, as you said, usually that happens in wildcats and I don't think this is considered a wildcat considering it is 14km away from a well was very similar geology. Let's see what happens. Exciting times for CGX shareholders.

<< Previous

Bullboard Posts

Next >>

POET increases production capacity to meet AI demand