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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 Frank007on Aug 10, 2023 12:27am
255 Views
Post# 35581008

Not sure where you get that idea ….

Not sure where you get that idea ….If ...and I say if ...the billion barrels is in place ....Frontera may be looking to exit but could easily put the fpso and equipment in place ...lifting costs all in $25- $35       Net $50 / barrel  x say even 100,000.    Well the numbers certainly work ....yikes.   Parex who is partners in Colombia and is a kindred canadian company could almost foot the bill just from cash on hand ...so to say they are under pressure to sell out for peanuts is totally miss directed ...
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