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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 27, 2024 10:35am
229 Views
Post# 36197610

30% drop in 5 days

30% drop in 5 days

And yet still no news. Clearly behind the scenes money managers are doing everything they can to crash CGX hard. I'd like to think share accumulation for insiders, but at some point it gets ridiculous. 

For a company that once held such promise and hope, this hard turned into a complete disaster. 

Perhaps a more useful question on Fridays AGM should be "in light of the 90% drop in market capitalization since last November and seemingly eroded relations with government officials, why should a single senior executive or board of director be allowed to continue with the company?". I genuinely hope one of you fellas who are attended absolutely rip into those guys. I wish I could attend but I cannot for family reasons. 

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