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.

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CGX Energy Inc > shedrills

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Comment by Harel1976on Aug 24, 2024 11:54am

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Post# 36194637

RE:RE:RE:RE:shedrills

Cgx lost an arbitration case and owes 16m$ for the demerara seismic, once they take action against cgx its game over.
What keeps cgx alive is the fact the Got No cash so nothing to take, hence the wait so if a miracle happens and cgx will farm out (not) then they will be left with 10% and a carry worth 8m$ then they will make their move, take the money and the 10% will go to the operator.
But not going to happens, the 16m$ are lost with cgx.

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