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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 westcanprideon Jul 20, 2023 2:58pm
308 Views
Post# 35550202

RE:RE:catalyst capital

RE:RE:catalyst capital

Tiger/Soul,

No doubt, Frontera has definitely kept CGX alive and for that I'm grateful. Saying this, the way this whole process has played out the past couple years is amateur-style at best. There is a reason companies fail... poor management and associated leadership. It's clear Catalyst Captial has incredibly poor judgment when it comes to hiring people to run their companies and Frontera is another example. Much of this comes back to De Alba no doubt. 


Like soulfire points out, two big oil fields have been discovered. Someone will want these fields, and the port, in their portfolio going forward. How much they are willing to pay, versus how much Catalyst capital wants is a different question. I just hope Catalyst doesent mess up a solid (and likely fair) deal because of their lack of knowledge regarding the oil industry. Published literature online suggests they screwed up other deals and ended up selling for much less than they wanted. Really hope they don't do the same thing here. 

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