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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 LCSullaon Nov 15, 2023 9:20pm
235 Views
Post# 35738237

RE:Where do we go from here?

RE:Where do we go from here?I'll take a shot and try to predict the future.
Two scenarios.  
One:  They sell cgx port land and remaining 30% of oil stake. Frontera sells their stake too.  Frontera goes back to Columbia. The book of CGX is closed. 
How much for those thirty acres?   It best be done before December 3rd.  Maduro the tin pot dictator is a loose cannon.  One USD a share.  A 2.5 bagger from here.  Nice premium huh?  I'm in at an avg of 70 cents.  Avg down this week from 90.  Good money after bad or closer to break even?  Time will tell.

Scenario Two:  Good ol' Frontera buys us pathetic minority shareholders out at 1 dollar and now we are all frontera boys and girls, and the game goes on.  No it doesn't.  We lost the vast part of our corentyne stake today supposedly.  All that undiscovered potential now gone.  An unmitigated disaster IMHO.  
I prefer # one.
GLTA
.
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