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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

Comment by westcanprideon Aug 22, 2022 10:08pm
261 Views
Post# 34913117

RE:RE:Full formal valuation link

RE:RE:Full formal valuation linkWould have to agree with you there SheDrills. 

Then again, go look at Frontera...sure, they have raped CGX for easy Working Interest/shares, but for what final end goal? This report does them absolutely no favors either. Hard to demand greater financial returns in a new JV deal when this report is the best that can be produced. 

End of day, Frontera is approaching close to $500MM in investments in Guyana and this is the best they have to show for it all? A gutless external third party report that pretty much shows the entire value of Corentyne/offshore Guyana (at least short term) rides on the success/fail of Wei-1? No wonder Frontera is severly lacking almost every other O&G company in North America on the different stock exchanges. These fools were given golden keys to frontier exploration and have literally pissed it away and are now in full out gamble mode for one last kick at the can. No way Frontera injects another $100MM USD into a offshore well if Wei-1 is not a slam dunk success. 

De Alba might be a dealmaker in other industries, but with O&G he is instead taking the old fashion gambling approach to derive final value for his Catalyst Capital shareholders... highly doubt that was the story he sold all those university pension funds many years ago when raising captial for his Series V.
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