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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

Post by taalon Jan 30, 2023 11:30pm
371 Views
Post# 35255621

Re Schriebźey

Re SchriebźeyIf I understand you correctly...By excersiseing at .495 on jan25 and the difference in the closing price on that date of $1.29 he would be responsible  to pay Income tax say at a rate of 37%...Then his cost base would be 1.29 and from that amount to whatever price he disposes his shares at lets say 3.29 he would pay capital gains on total shares x 2.00....If that is the case then you would want to trigger your income tax portion at lowest price possible...which is bullish in that he believes the price he triggered options was Low....Pay a small amount of income taxand large amount of Capital gains...Can you please confirm
Thks
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