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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 Rapsanion Dec 18, 2023 3:02pm
150 Views
Post# 35790374

RE:RE:<.10 soon

RE:RE:<.10 soon23 years after gun boat incident and now one possibly on the other side.  Other then by air or sea there is no method vor Venezuela to enter Guyana unless through Brazil.  Yes they are friendly to each other but how far would that go.   Then you have international interest.. obvioulsy the US with Exxon..  but there's CNOOC.  China is interesting as they have been neutral about the matter. They are Venezuela's largest investor but are also large investors in Guyana.  Maybe they are in a win/win either way assuming they keep what they have in Guyana.   If this does happen (I don't see how at this point) their water claims are out of whack with the land claim ..  it would cut into CGX's space.  Heck, even cuts into Suriname.  So Venezuela would also be disregarding a border established in 2007 by international arbitration process.  And as for the Vreed-en-Hoop Shorebase Inc. (VESHI) I beleive would also be lost since it's on the other side of the river. It's locally majority stake holder with Luxembourg a minority holde.. their armed forces probably smaller then Guyana.. well at least Guyana has boats.


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