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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 Harel1976on Feb 03, 2024 3:12am
267 Views
Post# 35860892

RE:RE:RE:RE:Value csculations?

RE:RE:RE:RE:Value csculations?What you have here is a potential ~600m boe if they strike oil in all their mastrichian inventory and meet their estimates which they miss both in kawa and wei.
Appraisals by cgx and fec are exploratory targets and not appraisals!
They admit the deeper targets are non commercial.
The cost of wells are making this block less attractive when the all point of it being shallower was to attract investors with its cheap exploration and development costs.
Lets say they dillute you to death and explore all north corentyne and meet their expectations, can you show me one project in the basin that moved to development with less then 1 billion boe recoverable?


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