CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > Santonian and WI…

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Comment by Schreibzeyon Aug 11, 2023 4:14am

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Post# 35583254

RE:Santonian and WI…

Couldn't agree more. Did H&P value this play too? What was the value based on if they don't have results? Was this an arms length transaction? What precludes FEC from taking the entire block for next to nothing? Is trading being controlled for some type of VWAP deal despite what's in the ground? I guess we know why the lab results take 2-3 months, got to squeeze 4.7% through before anyone "really" knows.

I guess the good news, if there is any, is if this play wasn't legit, FEC wouldn't want more. They own 95% now?

I don't know enough about the law surrounding this, anyone know if this is worthy of class action?

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