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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 Kelvinon Nov 08, 2023 11:42am
139 Views
Post# 35723775

RE:RE:RE:RE:RE:RE:RE:RE:War

RE:RE:RE:RE:RE:RE:RE:RE:WarLook up a map of Guyana. Venezuela claims all territory of Guyana west of the Essequibo River. Extend that out 200 miles perpendicular to the coast line and that ocean area within 200 nautical miles is the exclusive economic zone  (EEZ) of the country who has sovereignty as per the Law of the Sea protocols signed by all nations. Venezuela says that Exxon's stuff falls within their EEZ. Anyway, the US Southern Command headquarterd in Florida with forward base in Curacao is protecting American interests until they sort this out. Here's what international law says: The coastal state's sovereignty extends to the territorial sea, including its seabed, subsoil and air space, above it. Article 56 of the UNCLOS outlines parameters for the establishment of a country's exclusive economic zone (EEZ), which extends 200 nautical miles from the country's coastline.
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