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Bullboard - Stock Discussion Forum 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... see more

TSXV:OYL - Post Discussion

CGX Energy Inc > Notice this on the port?
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Post by Rapsani on Nov 28, 2022 2:07pm

Notice this on the port?

I think in my 23 years here I've never seen such silence after a press release.

I guess we all knew the formal delay was coming.

Did you pick up on this?

In collaboration with the Government of Guyana, CGX has shifted the immediate focus of the Port to service expected demand for aggregates and building materials to support the Government's infrastructure development in Berbice which must be imported into the region from elsewhere in the country and offshore.

I wonder how much was negotiated vs. told.  Regardless, the government sees a need for this port and there must be demand.
Comment by Schreibzey on Nov 28, 2022 2:46pm
Good question, I tend to think of this as a concession for delays. I'd also like to know why the Corentyne block ownership change hasn't transferred officially yet - to this point, could the Government get in the way with this transaction as it's laid out? May be my dumb idea, but does the possibility exist that the Government's relationship with OYL superseed its relationship ...more  
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