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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 Mat1791on Jan 22, 2023 11:55am
240 Views
Post# 35238479

RE:Valuations

RE:Valuations
BoykJurko11 wrote: Maybe someone can clarify/correct what my understanding is. Exxon Liza 1 was 300 million barrels. Plainview Oil had said that if achieve 50% recoverable then you're doing great. If memory serves (I'll have to go back and check), they drilled 15 wells on Liza-1, (3 of them production, 12 of them gas or water injection).

The CEO of Hess said that total E&P costs, including taxes was around $30 per barrel. To me, it seems that if someone were selling 150 million barrels recoverable, discovered, light, sweet oil in ground then a buyer would pay much more than $5 per barrel for it. I'd think more like $15 per barrel. What am I not understanding here? 


IMO, if the drill is successful we won't be around for production.  

$5USD hypothetical is for in ground equivilant not recoverable.

That may square up your number if your using pricing for recoverable ...

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