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 > Fair Value Calculation

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Post by Oregonduckon Oct 14, 2022 1:14am

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Post# 35024096

Fair Value Calculation

According to the Fair Value Report written by H & P, the 32% WI owned by CGX underlain the convertible bonds is approx. 32 cents per share based on $3.3 million per 1 percent of WI.

Looks like the short runway to Nov 30 is setting the stage for a court-sanctioned Plan of Arrangement to merge CGX into Frontera at $0.32 per share ballpark valuation. There is no chance in hell, CGX can come up with US$19 million to avert repayment.
The market has spoken.

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