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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

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

Post by SportyJon Aug 11, 2022 11:20am
261 Views
Post# 34888373

Hit or Miss

Hit or MissGonna be a long 8 months or so with nothing to discuss but financial minutia, options, severance packages, thresholds, tsx regs, etc etc. These are all moot with a good old fashion oil discovery (in paying quantities). Was supposed to be Kawa (maybe it was). Now it's Wei. Appears Cgx can't even officially relinquish D & B blks much less finish the Bernice port on or ahead of schedule. So sad that Cgx was the first to Guyana and they are getting competitively whipped on every front. Let's wait for Maersk Discoverer to sail south. Just no catalyst(s) on the immediate horizon to move the sp substantially higher, though stranger things have happened. We shall still wait and see. All imo.
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