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 > Magic Act

<< Previous

Bullboard Posts

Next >>

Comment by Zibo510on Aug 10, 2024 11:24am

235 Views

Post# 36172766

RE:RE:Magic Act

According to the terms of the Corentyne PPL, CGX'S interest in the PPL has expired, but by filing the NPCI they have maintained a legal interest in the PPL, subject to approval of Guyana.

If CGX comes up with a JV or sale or commit to drilling another well, I am pretty sure the PPL will be extended, if not, and Guyana does not grant an extension, other than CGX taking Guyana to court, it may be game over, unfortunately.

<< Previous

Bullboard Posts

Next >>

Advancing flagship Ishkõday Gold Project in Ontario