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 Miftee9on Jul 22, 2022 2:55pm

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Post# 34844124

RE:RE:RE:RE:Rough Numbers

DIRK, apparantly outside of you, it appears everyone else knew we were desperate. What gave it away, the fact we were millions in debt with virutally no prospective way out of it?

Yes, Management made many mistakes along the way (for over 20 years) and yes we did not get the deal we all wanted but the fact remains, somehow and someway, we were able to live to fight another day. A free ride on a potential huge discovery and no debt post. I for one am happy we were not bought out at the $1 because that was the alternative.

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