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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 Kelvinon Nov 27, 2023 11:03am
156 Views
Post# 35754377

Essequibo

EssequiboVenezuelan media trashing China for contracts with the Guyana g9vernment for Chinese construction, oil&gas, mining and telecom firms to construct multi-billion dollars contracts on areas claimed by Venezuela. Also really bashing Exxon, CNOOC and Chevron. Note that the leader of the opposition, Maria Corina Machado is very angry. She states vehemently that Essequibo belongs to Venezuela and she is intractable on that. If she gets elected she has vowed to privatitize this economy like Milei will do in Argentina once he takes office December 10. Elon Musk has already posted on "X" that he is going to build a $100 million Tesla plant in Argentina, he is so extatic that Milei won in last weeks elections.

Do you think that Exxon et al have a hope in hell of getting a piece of the action in Venezuela by allying themselves with Guyana "stealing" Venezuela's resources? That's how they see it in Venezuela. And what about Brazil? Who will they side with? I think that this Essequibo uncertainty is affecting the sp as well. Who would make a deal on Corentyne when it's owhership is in dispute? The Essequibo referendum will be held on December 3 in Venezuela.
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