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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 Frank007on May 12, 2024 10:32am
134 Views
Post# 36035797

RE:RE:RE:No money

RE:RE:RE:No moneyThe $16 milion is left over from the demarra seismic servey ...I can see the judgment went against cgx for the claim ...obviously there was no value to the seisenic as they relinquished the area back to Guyana ...a farm down will need to happen for sure to make cgx whole again I agree but the expenses are over 300 miollion$ accumulated ..that should have some tax value to any oil company getting involved ...that is what kept Athabaskan energy afloat for so long ...the tax losses ....THE GUYANA ASSETS ALONE WITH A FARM DOWN HAVE ALMOT $500 milion invested by Fronterra alone ...should be good to someone ..!
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