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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 26, 2023 12:01pm
198 Views
Post# 35557816

RE:Playing Out the String?

RE:Playing Out the String?

Interesting point here.... the port CGX is building is a piece of sh*t. Like you said, other entities are building meaningful projects that will attract the majority of business going forward. I've seen docks in central Alberta with more value than the junk they post to their website. 

interesting enough though... Frontera does have a good port in Puerto Bahia. So with that, how the hell does Frontera own such a massive majority of CGX shares yet allow a port in CGX to build be constructed so poorly and so slowly? Makes no sense. Was this another goal of theirs to ultimately take over the port (due to cost overruns/poor construction) and make it better? But because frontera now has cash flow problems of their own, they can't do that either? Either way, boggles the mind. Another project by CGX that should have been a easy cash maker being delayed by incompetence. 

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