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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 westcanprideon Jul 23, 2024 12:37pm
244 Views
Post# 36144521

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

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

SheDrills, 
if you are correct, why in the hell didnt FEC just sell out then after Kawa? Rumors were a deal was available yet he was turned down. I get Wei came in far less than hoped, but end of days it's clear neither management team had any sort of forward planning and were just hoping to get lucky. 

im not buying that no one wants this land. We have only seen prospective resource estimates for Maast intervals. What about these other ones? Oil was still found in those ones. 

Plus corentyne block still holds very attractive tax and royality terms that would likely lapse in the block was relinquished. 

usually in most businesses, if something can't be accomplished senior management is removed/fired. Not with these two loser companies. Instead both companies reward the degenerate losers. 

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