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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 > Frontera Ownership of CGX & how the Stole 20% WI!
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Comment by westcanprideon Jul 25, 2022 3:33pm
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Post# 34849118

RE:RE:Frontera Ownership of CGX & how the Stole 20% WI!

RE:RE:Frontera Ownership of CGX & how the Stole 20% WI! Its a fair point SportyJ.

I suppose as I look at the actual numbers more objectively, its clear we got screwed over badly. 20% WI given away for literally nothing is bullsh*t. 

I am happy Wei-1 gets drilled and financial ucertainty regarding funding is eliminated... 100% and I suppose that was my happinness on Friday with the deal. But if I look at how the Kawa-1 well results were used by management, and the terms of the new deal, its clear a tremendous opportunity was missed. 

Guess end of day, what is done is done. I just hope like hell a successful Wei-1 result is not muted because of our management team. 
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