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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 taalon Feb 29, 2024 5:13pm
185 Views
Post# 35907718

Re share price

Re share priceLet's see ..Shareholders holding millions of shares that are tired of this play...Well if someone is holding millions of shares you must assume they are long term shareholders who are More than likely Not in the money...After holding on for years and now Cgx being on the 1Yard line ...they are going to throw in the towel....Hardly think so...If your selling that many shares even 50,000 to 100,000 daily volume would put a lot of downward pressure on the shareprice ...yet they have managed to keep the shareprice in this tight trading range for over 3 months...Looks more like wash trading to me....Most longterm shareholders are frustrated to say the least...but are not going to give thier shares away at these prices...
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