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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 Miftee9on Jan 30, 2023 10:44pm
210 Views
Post# 35255571

RE:RE:Blackout?

RE:RE:Blackout?I agree.  It cannot be a blackout if he exercised options.  To get this straight for those who dont know, he as to PAY the option price (49c) for each option to get an actual share in his account.  So he would have paid for that out of his pocket plus he would have to pay the tax on the earnings.  After he does that, he owns the shares and "could" then sell those shares at a profit.  Some would do that to pay for the shares and taxes but so far, it appears he has not which is extremely bullish.  In my mind, any option purchases well before their expiry date makes me think he believes this is a low price point for the stock as it minimizes his immediate tax hit.  Lets see what happens.
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