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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

Post by whyworryon Jun 17, 2023 11:37am
1728 Views
Post# 35501726

Criticism of CGX management

Criticism of CGX management

In what I would describe only as horrible asset management,  Frontera have deliberately kept CGX underfunded and hanging by a thread.  CGX communications could be vastly better but I think this is the best we should expect in an environment where DeAlba is rationing toilet paper.  

This makes me even more curious why the recent press release contains this shiny nugget of optimism.   Aside from Frontera's embarrassing overuse of the words "transformational opportunity", past communications have never expressed this type of positivity.

I am optimistic and agree with the conclusion that there must be a significant discovery being quantified and look forward to the details, but as to who or why this release was worded in this manner is a head scratcher to say the least.  

 

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