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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

Energy Oil & Gas E&P
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

CGX Energy Inc > Fairly simple next steps…
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Comment by SheDrillson Jul 22, 2024 5:10pm
202 Views
Post# 36143314

RE:RE:RE:RE:RE:Fairly simple next steps…

RE:RE:RE:RE:RE:Fairly simple next steps…Neither company is able to dilute in order to raise capital here...there aren't enough willing buyers. It's achieve a farmout deal or lose the block here.

Frontera shareholders don't want to fund another well and have told management as much.
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Dealroom for high-potential pre-IPO opportunities