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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 waitingstillon Sep 13, 2023 1:29am
193 Views
Post# 35633102

RE:RE:Excuse the Interruption

RE:RE:Excuse the InterruptionCompletely agree. CC does not want to stick around for years to reap rewards of future costs (I believe it was future production costs they agreed to pay) but they want cash on the barrelhead which means more evidence now. Also, i believe APA was thru two zones already although i do not know the thickness of those zones but maybe they had thicker preliminary pay zones which was sufficient data to pull the trigger. Anyhow, we wait whether we want to or not. Each day takes us closer.
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