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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 22, 2024 4:51pm
245 Views
Post# 36192514

De Alba

De Alba

Have to give the guy credit... he can talk about adding value to Frontera by doing a $30 million dollar issuer bid/share buyback and in the same sequence oversee 257 million shares in CGX become virtually worthless. 

257 million shares * .15 CAD = ~$50 million 

$50 million is still worth $30 million... but the way CGX is trading, they probably become worth far less than $30 million by the time he completes his share buyback. 

He probably has sniffed one too many lines of the white stuff over the years and his brain cells are completely destroyed. 

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