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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 Dec 13, 2023 11:49am
263 Views
Post# 35782277

lean times

lean times

At this point in the game, no shareholder of either CGX or Frontera is doing well. Guyana has turned out to be a boondoggle that I am sure Catalyst wish they had avoided all together... ironically, much of that regret has little to do with the rocks and more to do with the idiotic actions completed by De Alba these past couple years. He set neither company up for success in Guyana... and here we are sucking balls mere days before the close out of 2023 as a result.

~500-600 million boe in prospective resources... and in my opinion, probably 200-250 million in contingent resources in Kawa. This is still great opportunity. But my goodness, one sure as hell would never know it with the losers we have working on this project. 

I just hope and pray now that Houlihan Lockey can make a deal for us shareholders. I am doubtful, however, that the government will be much help going forward. CGX/Frontera provided them with a half-as*ed playbook on what roughly exists in North Corentyne. They know that some other competent company will come aboard and produce this oil one day. I just hope we don't get sold off now for a literal swan song while jerkoff POS losers like Suresh, Durkee and Stockinger walk away millionaires from their yearly salaries. 
 

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