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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 Apr 20, 2023 6:36pm
193 Views
Post# 35406286

RE:$1.57......

RE:$1.57......Cloudy, Got a call from my deepwater engineer, company man buddy 2 days ago. Talked for over an hour via Whatsapp. He reckons that they must have rbopped (underbalanced drilling) their way through the regression and in the big Santonian by now, judging by the early March news release. So Cloudy, pretty soon he reckons. He, like I, is waiting for results.

He's also waiting on the supposed FID on Total/Apache project in Suriname now postponed yet again. Now saying 2024. He asked me wtf did I think was going on with that? Told him that it's all clear as drilling mud to me. Lol

Anyway, money on the sidelines is waiting. But he reminded me that if they're in deal making negociations then precious little info will be made public. Why spend $160 million on a well and just give info away for free by making it public. Pay to play. So we may have to wait a while till we get enough info to make an informed decision. Maybe thar's why the sp is dropping. People taking profits and using them to play somewhere else while they do their deal making. 
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