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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 westcanprideon Sep 04, 2023 7:39pm
394 Views
Post# 35619141

Exploration manager gone

Exploration manager gone

Strong suggestion, via stocktwits, that CGX exploration manager Paul Langlois is no longer with the company. Seems like a couple other folks are also no longer with the company. 

Unless he left on his own (ie, found another job), the layoff of a exploration manager before the final release of the fluid and Wei-1 lab results is quite interesting. My sincere guess is that Frontera is working on a final JV/buyout and CGX is just along for the ride at this point. Otherwise, why else release the one man who would be able to make educated decisions on the value of potential JV/buyout offers that other companies have made in the coming weeks/months. 

Like I said last week, Suresh and his group of useless henchmen provided a smoke and mirror AGM. 100% guaranteed both Frontera and CGX know the fluid/lab results. Guaranteed they know that a JV/buyout deal is going through and thus key people are now no longer needed. 

Guess we see soon enough. Unlike the other losers working for CGX, Paul L was one of the few good ones. Identifying solid drilling locations is very difficult task and he helped provide CGX/Frontera with a fantastic discovery. He will no doubt be gainfully employeed again by some other company. 

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