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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 SportyJon Aug 13, 2023 10:21am
167 Views
Post# 35585905

RE:Westcanpride

RE:WestcanprideTaal, my friend, you and I have debated de Alba's "loyalty" many times in the past. My belief is that de Alba doesn't view "his" investment in Guyana as two separate investments.  He views cgx guyana & fec guyana as one.  It's somewhat of a wash to him as to who owns the assets & the percentage splits.  If they get an offer for x for N Corentyne, de Alba gets the same money. 

We on the other hand don't have this view. So every time cgx gives up assets ie wi or stock it doesn't hurt him. It only hurts cgx minority shareholders.  

I don't know the effect of his personal wealth on fec or cgx stock ownership or options but I'd bet it won't matter because again he views these companies as one.

Lastly, can you imagine cgx having a conference call with de Alba bragging on Cgx's stellar qtrly results (like with fec) before turning the call over to Suresh???  Lol. Not gonna happen. 

All imo.
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