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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 westcanprideon Feb 02, 2023 1:06pm
182 Views
Post# 35262693

RE:RE:RE:RE:Unexercised Options

RE:RE:RE:RE:Unexercised OptionsSo in other words Stark, just so I am clear (because who knows, maybe I am missing the point), De Alba is the genius for putting up no money and thus assuming no risk at the moment? He is therefore the genius for letting Wei-1 play out and having no up front skin in the game? If the well is successful, he can convert this summer... and if its a fail, and CGX stock tanks, he can then walk about with no personal loss? If so, I don't disagree.

But why should Lacy and Suresh take risk then...? 

What I said above could 100% apply to all CGX insiders! Somehow, Lacy and Suresh made the move to convert and actually take on some personal risk. Those two took some courage and put their neck on the line. De Alba has not... he's taking the easy (albeit smart!) way out. 

But I do find it hilarious folks can bash on Suresh for years and yet he's the one now putting personal money on the line. Like him or not, hes been a solid soldier for CGX for years and likely is trying his best (albeit with many liminations, as many have pointed out). De Alba clearly is an opportunist (as his role in CC implies as much) and him not exercising shares proves as much. 

Anyway, I try to highlight an example and some old timer folks get all bent out of shape. Not shocked. 

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