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 > $225 million CAD

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Post by westcanprideon Dec 14, 2023 12:44pm

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Post# 35784787

$225 million CAD

This is roughly how much Frontera (and Pacific) has paid over the past decade to obtain their massive share ownership of CGX shares.

bottom line.... Frontera is also in the hole big time on their CGX shares. Breakeven is currently around 0.86 cents CAD.

At this point, Frontera would require CGX shares to more than double in current price to just breakeven. See if Houilian Lockey can pull off the miracle for all of us.

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