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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 waitingstillon Jun 17, 2023 11:06am
214 Views
Post# 35501706

RE:RE:RE:Scrutiny

RE:RE:RE:ScrutinyYes Kelvin, the way forward WILL be interesting. Here are my thoughts. I agree 100 percent that Kawa was a discovery and when they drill an appraisal well thru the fat part of the Sant target i think the stringer issue will be a thing of the past and we will get another 200mil or so resource out of Kawa in addition to the 300-500 mil barrels from Wei (my guesses based on things i understand about this area). 

Next step will be a major farmin. CGX nor FEC have the horsepower to develop this field. So we need a major (Total makes most sense) to enter a majority position here and take over. If data room not open yet, i bet it will be immediately after upcoming NR. That should generate some interest.

Once a new partner involved (or outward sale), the central target completely derisked now. That would be a great next move imo as it could bring resource estimate to 1 billion in the block. After that then begin appraisals on Kawa to firm up those numbers as well as Wei.

Anyways just some dreaming. Need to get Wei's numbers out first.
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