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 > Formal Evaluation

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Comment by Miftee9on Aug 04, 2022 3:08pm

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Post# 34871887

RE:RE:RE:RE:RE:RE:RE:RE:Formal Evaluation

Not sure how much value you can place on the trading of this stock. Very thinly traded with wild fluctuations. Even though pre drill Kawa seemed promising, there was still no proof they would hit. It would have been heaviliy discounted in a valuation given the uncertainty of hitting and it being commercial. I am only speculating as I have no inside knowledge of what they were using to justify their conclusions.

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