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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 Dell1on May 30, 2024 5:21pm
237 Views
Post# 36065279

Disappointing to see this

Disappointing to see this

Two possible reasons Frontera can't find a partner for us are: Firstly, the resource estimate and return on investment might be low or not economically attractive enough for a joint venture. Secondly, our management may not be highly regarded or well-accepted in the oil and gas industry due to its reputation. There could also be a third option that we are all unaware of.

It is disappointing to see how the appeal has completely disappeared from our two drilled finds.

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