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 > Valuation

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Comment by westcanprideon Aug 11, 2023 9:15am

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Post# 35583514

RE:RE:Valuation

Yup, the math looks correct to me Sporty... CGX shares are so screwed based on the valuation given yesterday. Why the hell would any investor pay >$1CAD/share when in essence the company just said it's willing to give away a decent chunk of WI for a swan song? And the hope this management team will get a fair deal/god forbid a premium for the remaining 27% WI... good luck.

That proverbial chair OilRun constantly talked about has turned into a hot chair that does nothing but turn investor money into dust.

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