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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 Aug 19, 2024 12:46pm
232 Views
Post# 36186188

Timely Disclosure

Timely Disclosure

https://www.tsx.com/en/resource/432

Seems to me that if the government has taken the license back from CGX/FEC (based on events released by the government), this would classify as significant and material news to shareholders. Based on TSX timely disclosure, both management teams should be releasing news to the public. 

You combine this with ever falling share price (also addressed in the document), it seems like a bloody news release should be occurring ASAP. 

Then again, Frontera CEO implied everything was going to plan with securities analysts during the 2Q conference call. Clearly either he is lying or the government is bluffing to media analysts. 

End of day, this whole fiasco is just a joke and reflective of losers running the show. Very disappointing on multiple levels. 

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