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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.


TSXV:OYL - Post by User

CGX Energy Inc > Interesting quote in today's PR
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Comment by Mat1791on Jan 23, 2023 4:28pm
221 Views
Post# 35240717

RE:RE:RE:RE:RE:RE:RE:Interesting quote in today's PR

RE:RE:RE:RE:RE:RE:RE:Interesting quote in today's PR
Frank007 wrote: My 2 cents....for what it's worth ....money has already been committed for this well ....once complete the appaisal sets in...smart ...compession of the port project 2023..... feild development  or farm in depending on oil prices ...either way  Frontera wins .....


worth about,

...2 cents

If well is a bust, FEC may be worth $5-$7, CGX pennies to $1, everyone knows that.

If well goes good, both worth a lot more, everyone knows that.

So, CGX will be house rich but cash poor, balance sheet will look much better, just not liquid.  Assets are assets.

And if they find what they think, liquidity won't be an issue, FEC's leverage will be diminished, and partners will come knocking.

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