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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 Mar 06, 2024 4:03pm
170 Views
Post# 35918949

Re early may

Re early mayI dont believe that Fronterra drilled Kawa and Wei on thier own because they could Not get a deal on Corentyne..Guyana government  auctioned many consecions that were Not sandwiched in by Exxon to the west and Toal Apache to the east....both huge discoveries...I believe they drilled both holes to get a much better deal than what was probably on the table...Thus the time factor..How long it takes to iron out a deal...im not sure...but do believe we are worth much more than what we are currently  trading at....
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