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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 May 11, 2023 1:22pm
247 Views
Post# 35443580

RE:Someone please help me understand

RE:Someone please help me understandI think the argument from management in negotiations with buyers is that the share price is not reflective of the value, given the the large holdings by insiders and thinly traded.  If this is highly traded then I could see an argument from buyers that the price is indicative of value.  At the end of the day, the buyer is going to look at the price per barrel recoverable plus the port plus the premium for the strong management team (hehe just kidding) and that will be the price paid.  I believe share price is irrelevant at the moment to management because they are not trading shares and even if they could they cannot sell enough so why bother worrying about it.  You and I on the other hand can trade it and given it is suppressed price we really cannot trade it and therefore tied at the hip to management.  Frustrating for sure, but if you have been in this for a long time, you should already be willing to go to 20c or $8. 
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