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 > Back Of The Napkin

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Post by Mat1791on Jan 20, 2023 10:56pm

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Post# 35236992

Back Of The Napkin

Valuations For Corentyne Block

(all assumptions, simple evaluation, no taxes or royalties, only for comparison purposes)

CGX

Port Value = $335,000,000 USD / 335,000,000 Shares = $1USD

(1B BOE @ 32% X $5USD per ) / 335,000,000 Shares = $4.78USD

Total Corentyne valuation for CGX = $5.78USD or $7.80CDN

FEC

CGX Share holdings = (257,883,000 X $7.80CDN) / 97,190,000 = $20.70CDN per share

FEC Coentyne valuation = (1B BOE @ 68% X $5USD per) / 97,190,000 = $47.23CDN per share

Total Corentyne valuation for FEC = $67.93CDN

It's late, I'm quite over the new cancer causing alchol limits so, mistakes are probable however my point should be evident...

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