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 > AMAZING

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Comment by CPFStocks1on Sep 08, 2024 12:45pm

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Post# 36213839

RE:AMAZING

That is to be expected as they cannot pump at this rate indefinitely from these wells, there are in total 7 approved projects and they are currently pumping from 3.
It could help to improve the demand for other areas and eventually CGX can benefit, however I don't believe it is affecting the discussions presently.
What is good to note is that CGX has reported as much oil in Kawa and Wei that is currently in the Liza 2 well.

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