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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 Nov 10, 2023 12:39pm
241 Views
Post# 35728757

One last post.

One last post.

Shame on the government as well. They said they are wanting to encourage growth in the basin. They should they wanted the "best" for Guyana citizens going forward. 

well, they deserve to lose as far as I'm concerned as long they have CGX and Frontera involved with Corentyne and the port. Make no mistake, Guyana government knows exactly what is occurring with Corentyne and port at all times. The fact they are ok with such sloppy and unnecessary behaviour from both companies is just not acceptable. Im not shocked a JV/buyout has not occurred. Management ethics is a massive component of any deal... it's clear neither company has this. 

I have been told that South American culture and behaviour is completely different from North American. I will leave it at that to avoid another post being deleted. Well, are only saving grace might be that both CGX and Frontera trade publically within North America and thus folks with some form of ethics might be looking into the scandal that's unfolding here and press charges one day. One can only hope. 

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