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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 Kelvinon Aug 16, 2023 2:14pm
161 Views
Post# 35591427

RE:RE:RE:Wei results leaking

RE:RE:RE:Wei results leakingSporty, how do I know 100% sure that you're oil patch probably with a degree in petroleum engineering from the University of Tulsa? Yup, that would do it for sure. Problem right now is that it, as you probably know, costs anywhere from 30 to $50 million to test an HTHP well. They ran out of available cash flow to do it is my guess. And cgx has no revenues to help out. Technically I think that they probably have a winner there. It's other things dragging this play down.
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