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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 Mar 21, 2023 4:14pm
107 Views
Post# 35352120

RE:Gold oil ratio….

RE:Gold oil ratio….Frank, I was watching Bloomberg Surveillance this morning talking about all of the junior debt holders of Credit Suisse got fleeced. The Saudis apparently held a lot of junior bonds. 

Definition of junior debt: "Junior debt refers to bonds or other forms of debt issued with a lower priority for repayment than other, more senior debt claims in the case of default. Because of this, junior debt tends to be riskier for investors, and thus carries higher interest rates than more senior debt from the same issuer."

Anyway, so the Saudis want to recoup their losses. The thinking is that they'll want to increase the oil price. So maybe keep an eye on OPEC+ because the market should begin to price that in if indeed Saudi cuts production. Plus we have summer driving season coming up. Your estimates are sound in my opinion.
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