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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 Kelvinon Jan 27, 2023 2:00pm
203 Views
Post# 35250619

RE:RE:RE:SORRY GUYS

RE:RE:RE:SORRY GUYSWell Cloudy, going by the basic accounting equation of total assets = total liabilities + total clsims on assets (equity) then because total liabilties is zero then you can't see more than 0.15 dollars x number of shares outstanding of total assets in cgx. OK, so you do assign some value to Corentyne. Why any at all? You like everybody else is hoping that the earth scientists got it right.

Be clear man. They either got it right in terms of commercial find or they didn't. If they got it right then you're saying tbat the increase in assets produced at TD will only be worth 15 cents per share? People are asking why you think that. Could be $4 per share or more very easiy with a find of 150 million barrels recoverable with E&P costs $30 per barrel with Brent (light, sweet, crude) at $80 per barrel. What are you assigning value to at 15 cents per share? The port? Cause if they find no commercial oil, that's all that's left.
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