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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 Goldrush97on Jan 14, 2023 9:19pm
239 Views
Post# 35223685

RE:The point that some may be missing

RE:The point that some may be missingCgx/frontera needs to make a deal soon with oil major or NOC. Hopefully the Guyanese govt who are said to be big shareholders in the company can push for this to happen sooner rather than later. We all know cgx/frontera are out of their league when it's comes to offshore oil exploration and production/development. With 200m barrel discovery at kawa and possibly more with appraisal along with a sizable find at wei1 should be sufficient to warrant development which cgx nor frontera can do. Both fields are close to each other so the can be tie back to one fpso. 
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