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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 Sep 28, 2022 11:29pm
271 Views
Post# 34993978

Share price is an embarrassment!

Share price is an embarrassment!This board looks as dead as the share price as of late.... speaking of share price, go look at the chart since Jan 1. Its been one prolonged decline... even the temporary spike from Feb 1-Mar 2 had a decline component to it.

Even Frontera is down 2.9% for the year! De Alba et al sure on a roll. Fathom to think what Frontera would be trading at if oil hadn't been over $100 for much of 2022. 

Let's all hope like hell Wei-1 is that transformative well, because its clear the market in general thinks precious little of the opportunity and is giving all materially involved management teams the literal middle finger. 

The easiest, and honestly smartest solution, would be a JV. Then again, nothing Frontera/CGX has ever done would be classified as conventional/forward thinking... guess there is always a first for everything! 

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