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.

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CGX Energy Inc

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Post by westcanprideon Feb 12, 2024 6:09pm

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Post# 35876467

.25 CAD

In the absence of any news, I can see CGX bleeding down further towards .25 CAD before a new floor for baselining is found again. This level is obviously significant given the massive share purchase by Frontera at .25 CAD and associated rights offering many years ago.

I didn't think the ~.30 CAD would be breached (since it bounced off there in early January), but lone behold we now have shares trading in .285-.29 range. The .25 CAD range is now sadly very possible.

Sad times for CGX at the moment. Embarrassing would imply management actually cares... I'm convinced it's just a joke to them at this point and they stick around solely for the pay cheque only.

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