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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 westcanprideon Dec 14, 2022 1:46pm
202 Views
Post# 35171354

RE:R u ever misinformed

RE:R u ever misinformed Frank,
Exxon has pumped more money into Guyana (donations, charities, tax/royalty reveunue) than Frontera could ever dream. Let's not kid ourselves here.

"Good standing"... relinquishment of Berbice and Demerera licenses for $0 so they could keep their Corentyne License Deal Alive. Constant bashing in the media regarding how slow/useless the CGX/Frontera JV have been in making something happen with the Corentyne License/Port completion.

If you think a measly $10M Guyanese Dollar donation (equal to a whopping ~$50,000 USD back in Sept 2020) is going to protect this useless JV team long-term, your sorely mistaken.

Exxon JV pumps more into the local coffers every day via their offshore development... imagine what a development in Corenyne would do for Guyana government revenue... and hence the bashing in the media. The government has real visions now! 


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