CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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

CGX Energy Inc > Stab at valuation

<< Previous

Bullboard Posts

Next >>

Comment by bullishdudeon Dec 12, 2023 2:42pm

197 Views

Post# 35780477

RE:RE:RE:RE:Stab at valuation

Nowhere in the world you will get $4/bbl for contingent resources. In deepwater even less
CGX only has 22% of the block, irrespective of FEC's ownership of CGX.
To get from contingent resources to actual reserves another 2 to 3 wells are needed, for which CGX cannot raise funds due to a vomplete lack of credibility of the mgmt team.....

<< Previous

Bullboard Posts

Next >>

The top 10 Canadian medical stocks