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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 Kelvinon Mar 11, 2024 12:53pm
137 Views
Post# 35926652

RE:RE:port value?

RE:RE:port value? Maybe pm Frank007 to find out more info. A number of times he has mentioned that gravel aggregate for road and dock beds, concrete is very scarce in Guyana and they have been having to import it. Most likely from Colombia and Brazil. He is the only one who has mentioned aggregate. He knows more than most posters I think. Certainly more than me. He mentioned in a recent post that aggregate is being delivered in huge amounts. 

Value of a port? Priceless in a country whose GDP growth is number 1 on the planet in the year on year growth rate over 40%. Devenand posted yesterday about XOMs Yellowtail and other projects like Whiptail and Urea. Yellowtail alone will produce 225,000 bbl/day by the end of this year. XOM plans 6 FPSOs for now and to be producing 1.2 million bbl/day by 2027. That's a pile of cash for Guyana flowing in every year! They'll need to import a lot of stuff. Yeah they desperately need a port. 
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