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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 24, 2022 11:40pm
192 Views
Post# 34918848

RE:RE:Stark

RE:RE:StarkI definitely see your perspective Stark. 

Guess end of day, to me at least, De Alba's/CC's "investment" strategy as opposed to a modern "oil and gas" strategy has not worked very well. Frontera market cap is severly lacking the broader O&G market (in addition to being down considerably to 4-5yrs ago). Additionally, other major companies still follow this "oil and gas" strategy when dealing with CGX/Corentyne and I think this is a major reason why no JV deal has ever been inked. 

So yeah, De Alba/CC might have their own strategy for maximizing Frontera/CGX, but its clear their efforts to date have been incredibly ineffective (if not downright destructive). At this point in the game, offshore Guyana comes down to one single well (Wei-1)... if anyting, this is not a strategy... its plain full out gambling. Let's all hope and pray it works out, otherwise everyone involved with CGX (and even Frontera) is pretty f*cked.

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