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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

Comment by 1StewPidBatPisson Dec 08, 2022 8:20am
173 Views
Post# 35158464

RE:Starkly was right

RE:Starkly was right Not a scam. The umpairment on revenues imposed on them and others in Colombia with president Petros new tax on hydrocarbon companies has caused investors to sell not only them but many other companies operating in Colombia. Petro won by forming a coaltion with envitonmental radicals. His vice-president leads that coalition. She has vowed to make hydrocarbons obsolete.<p><p>So fec's revenue stream is to fund Corentyne developmrnt is being impaired. That's why fec sp is dropping. Yet they got the cash to drill Wei-1. As many posters have stated, Wei-1 is a coin flip. If they nail a hydrocarbon system that "unitizes" with (feeds) Exxon fields then a JV with big money is likely. If not, then both fec and oyl are screwed. So it comes down to your faith in the earth scientists who have identified Wei-1 as a good prospect. This yap critisizing oyl management is something that I ignored. When the yap started to get on Noble Discoverer's case I had to refute that as being lame. What's next? Blame the service companies, the cooks and catering staff? No! It comes down to 3 things: geology, geology, geology. Did they interpret the seismic and its correlated with Kawa results correctly? Make your bets folks. Could be a 20 bagger or bust. 50-50 odds. 
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