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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 Mbxwatcheron Jun 21, 2023 2:42pm
229 Views
Post# 35507683

RE:WCP

RE:WCPUnfortunately, I think its even worse than that.

Any financings they do to raise money, for any purpose has to be approved by Frontera.
I am reasonably sure I read this on the last BS financing that Frontera did to change the working interest.

Our only hope I think is that they get concerned about some significant investors in Guyane in "their indigineous oil company" that they are somewhat careful in what they do.

Other than a dry hole this has always been the biggest risk to shareholders of CGX, and at this stage their is not a whole lot we can do about it.

Fully invested, not selling personally, so here we go!!!
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