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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 drunk@noonon Oct 10, 2022 8:28pm
354 Views
Post# 35016284

CGX shareholders need to factor in massive dilution

CGX shareholders need to factor in massive dilutionin order to pay their share of a project that may or may not start producing cashflow for them years down the road. Have no idea why you seem surprised. I am a FEC shareholder who have read hundreds of posts on this board over the past year claiming some company was going to come out of the blue and buy you out at a multiple of your share price based on the results of the first exploration well. Well? Nothing. The company has been a millstone around FEC;s neck. Rather than have to pay 100% of the costs of these explorations wells. I would rather own 30% of the project and only have to pay 30% of the cost, as the have been given 0 value for their offshore venture.
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