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 > Dept free?

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Post by StockAccumulaton Aug 25, 2022 8:17am

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Post# 34919195

Dept free?

Hi guys,

I see people say we are dept free. But are we not still in dept with frontera for 19m?
Or am i missunderstanding the latest news release?

"In addition, the Company announces that the US$19 million convertible loan outstanding to Frontera, previously announced on April 16, 2021 and May 28, 2021, and originally maturing on June 30, 2022, has been extended to July 31, 2022 and then subsequently to September 30, 2022 to allow for the completion of the Agreement (the “Loan Extension”). The Loan Extension remains subject to final TSXV Approval"

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