Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 tiger77on Sep 05, 2023 9:27am
259 Views
Post# 35619559

RE:CGX stock value

RE:CGX stock value

YD, I think it's hard to put and arbitrary number on these types of things. 

On one hand CGX is in a tough spot because everyone and their mother knows we don't have any money to do any further drilling which would value us less....

BUT....

If the drill results come in as good or better than expected I personally believe that will trump my first statement with companies wanting to get in "Cheap-ish" to a license that will be basically known to produce.  IMO this will cause companies to put a bid in not factoring that we have no money, but more along the lines of they want the assets we have.  If we had tons of money to drill more wells that would put us in a much better position than we are now but I will leave you with two things.

1. We need the lab results to be as good and verified or better than previously announced to give us ANY shot of cashing in at all.

2. What I do believe is that any offer for CGX or FEC or both will have to be a multiple of where FEC put money into CGX so I'd expect a multiple of $1.60 +  What that multiple is whether it be 2x, 3x or more all depends on the lab results but that is the cruticial part here.

Lab results will make us or break us in my opinion.
 

I haven't sold and still believe.

Show me the money!!!

GLTA!

<< Previous
Bullboard Posts
Next >>