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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 westcanprideon Jun 07, 2024 12:12pm
325 Views
Post# 36077795

Money on hand?

Money on hand?

Does anyone have any idea how much money on hand CGX actually has to continue paying management/contractors before it runs out and has to go back to FEC for another shark loan?

Sadly, it appears FEC/CC appears perfectly content to allow CGX to blow every last dollar it has on wasted salaries. Wouldn't shock me if not a single honest day of work has been done since last Novembers news release. 

Ironically though, FEC probably deep down doesent have the desire to want to absorb more shares/WI since its current stake it doesent nothing for them. Hence my question of how long before the money runs out? 

Either way, dead investment money all around right now and the only winners are the fat losers at the top cashing in each month. 

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