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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 westcanprideon Aug 29, 2022 10:14am
486 Views
Post# 34926466

CGX Updated PPTs

CGX Updated PPTsIf folks check out the company website, good detailed PPTs have been updated for Corentyne and the Port. For the life of me, I have no idea why the hell they wouldn't have marketed this information ~3 weeks ago when they did the 2Q press release. Instead, I only found out because of SheDrills on Stocktwits. 

Guess bigger picture, I would love to know what updated resource potential do they have for Corentyne outside of the "golden lane" (i.e., provide new upside targets).

Eagle-1 (geographically not very far from Kawa and Wei) was drilled in 2012 and only encountered very poor oil and minor gas throughout the objective Eocene and Maastrichtian. Of course, Kawa-1 encountered 68ft condensate in the Masstrichtian and then a lot more oil/condensate in the underlying Campanian-Santonian-Coniacian. As such, I would love to know what they think about these up-dip lands on the upper continental slope. Hell, Utakwaaka-1 well was supposed to be the next big well back in 2018-2019 before Apache started making big strikes in Suriname. Be nice to see how this past location stacks up given their new knowledge of the area.

Guess end of day, I want to see the share price go higher (like everyone else). But poor as*ed marketing, in addition to many remaining unknowns about mid to northern Corentyne license, still leave many outside investors shaky. The price probably will go up at some point here, but man, these fools sure as hell do not do themselves any favors. 


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