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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 westcanprideon Dec 05, 2023 12:04pm
169 Views
Post# 35769220

RE:RE:RE:Frontera…

RE:RE:RE:Frontera…

Frontera can continue to transfer all the ownership of Corentyne they wish... but if Frontera continues to do a horrendous job from both a technical and business perspective, that block becomes completely worthless. I think this is a big reason why Frontera share price lags... no one has any idea how Frontera is going to monetize their investment in Corentyne... and by letting CGX languish (and thus letting the technical merit of Corentyne flush down the toilet), that does absolutely no favors to Frontera. 

I genuinely do think that Frontera management thought they could get CGX killed off. The government obviously has not let that happen. End result in mass confusion by all investors towards the merits of Corentyne going forward... CGX sitting at $100MM USD market cap is a horrible thing for Frontera... makes their ownership value in Corentyne/CGX shares worth way less than what they paid. 

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