Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum Frontera Energy Corp T.FEC

Alternate Symbol(s):  FECCF

Frontera Energy Corporation is a Canada-based oil and gas company. The Company is involved in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 27 exploration and production blocks in... see more

TSX:FEC - Post Discussion

Frontera Energy Corp > Guyana VP Says CGX Deepwater Port-NOT?
View:
Post by kcac1 on Oct 31, 2023 9:38am

Guyana VP Says CGX Deepwater Port-NOT?

From this article: https://oilnow.gy/news/cgx-self-styles-berbice-project-as-deep-water-port-but-jagdeo-says-it-isnt/ 

"Vice President of Guyana, Dr. Bharrat Jagdeo said a facility being developed by CGX Energy in the South American country, styled by the company as the ‘Berbice Deep-Water Port’, “was never a deep-water port.” 

“Deep-water port would be a port that can bring in the massive vessels. In the Berbice River, that location, it’s hard to do a deepwater port,” the Vice President stated. “Deep-water facility would mean that you can bring in like the Panamax vessels…”

"A Panamax vessel is the largest size of vessel that can transit the Panama canal. According to the American Association of Port Authorities, a Panamax vessel has a draught of 12 metres (m). CGX’s undertaking, according to reports on its website, is meant to accommodate a draught of 7m in a basin that’s 8.5m deep. US maritime agencies define deepwater ports as structures used to facilitate transport, storage and handling of crude, but they do not specify a required draught." 

"Jagdeo said a proper deep-water port would carry a cost of more than US$1 billion to develop. In contrast, CGX Energy has spent a few tens of millions on this facility."

This article lists the major ports of Guyana and does not mention the CGX port but #7 is listed as a being built as a deepwater port with the major investor being the deep pockets of the UAE and designed to accomodate huge ships. It appears it will be very costly and be completed next year and would be the only deepwater port in country.

The Major Ports of Guyana

https://www.marineinsight.com/know-more/ports-in-guyana/
Comment by Profittaker on Oct 31, 2023 10:53am
Why were shareholders sold on the thought that this was a deep water Port all along? Hasn't this been a serious misrepresentation which could result in a class action suit?
Comment by kcac1 on Nov 01, 2023 11:51am
Maybe CGX's definition of Deep Water is different that the Guyana government. When you see the VP of Guyana say such a port will cost over a $Billion, that kind of leaves CGX out of the mix. This article seems to indicate that Guyana is looking for big money to build a big port. For their president to make two trips to the UAE looking for investment money seems to indicate to me that they have ...more  
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities