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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 taalon Aug 11, 2023 8:36am
176 Views
Post# 35583421

Math

MathIf you do the calculations on the last batch of shares where Fronterra  picked up roughly 45 million shares at $1.63 the license was valued at app $475 million....roughly 290 million shares ×$1.63  because that's what Frontera was willing to pay...Now with this 4.7% to cover $16.5 u.s. or app $20 million Can.  valuation comes to roughly $475 million Can.I would think thats what they based thier valuation on ..Problem is that first deal at $1.63 was Before Kawa and Wei...How could our valuation be the same after Two Major Discoveries???
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