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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 Duderrron Aug 24, 2023 12:52pm
1025 Views
Post# 35603992

New here. How do I mute Harel?

New here. How do I mute Harel?

Not here to debate Guyana vs Namibia, but Sintana only has a carry by majors on one of their licenses in Namibia in which they are down to under 5% working interest. Wouldn't exactly be calling it a slam dunk vs. CGX and Frontera going forward. With good results CGX might end up in that position or get fully bought out. In either of those cases we should see a nice payout as well. Looks like Sintana's other Namibia licenses are under 5% WI and only being carried on seismic research or a single exploration well lolll.


CGX and Frontera could damn well learn a thing or two from Sintana with regards to marketing, investor engagement and attracting deals though. Hopefully they make me eat those words over the next few weeks!

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