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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

Energy Oil & Gas E&P
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

CGX Energy Inc > Chevron
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Post by westcanprideon Oct 23, 2023 8:40am
558 Views
Post# 35695864

Chevron

Chevron

They just bought Hess... for a tiny premium no less. 

For Guyana and Stabroek block, this is amazing news. Chevron has a much fatter pocketbook and will allow much faster FID/Growth of all those discoveries already made. 

For Corentyne and us hapless CGX (and many Frontera) shareholders... who in the hell knows at this point. Funny how multi billion dollar deals can occur (Pioneer and Hess), yet radio silence with CGX. 

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