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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 Oregonduckon Nov 08, 2022 12:03am
376 Views
Post# 35080926

Going, Going, Gone

Going, Going, Gone

Like a whiskey shot at last call.

"The directors and officers of the Corporation collectively own or control directly or indirectly, in the aggregate, 328,900 Common Shares representing approximately 0.09% of the issued and outstanding Common Shares as at June 9, 2022."

OYL's days are numbered. Key managers and insiders owned minimal stake, but have cut themselves out  "Golden Parachutes" for huge payouts in the event of a takeover by Frontera.
Expect little takeover premium to market price. Could even be a "takeunder".

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