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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 > Relaxed
View:
Post by westcanpride on Jun 29, 2023 9:26am

Relaxed

I won't lie, I actually feel very relaxed regarding my CGX investment now. They discovery of a 210 ft pay zone in the Santonian (likely much of which is continuous) cannot be understated. Add in another 77ft of secondary pay in overlying zones and you have one hell of a discovery. Many similar sized sandstone reservoirs have been sanctioned by Exxon into development mode! 

At this point, we just wait for news on a JV/Buyout. The current strategy of going at this offshore drilling alone hasn't worked well for either CGX or Frontera from a cash flow/share price perspective. But I would almost certainly expect a major IOC/NOC to come along sonner than later. Many companies globally in the past 10 years have paid big money to buy into various basins globally (conventional and unconventional) and came up empty. Finding new oil and gas reserves is not easy! CGX has a winner in Wei in my opinion which really helps make Kawa even more attractive as well from a development perspective. 


If share price does drop more, I likely buy more.

Comment by waitingstill on Jun 29, 2023 9:41am
Great post wcp. M sentiments as well. As i stewed in my disappointment throughout much of yesterday i eventually came to realize the same thing as you. It is not like cgx reported a duster and we are totally screwed. No. In factthey reported a monster find! Eventually someone will pay for these two Discoveries and eventually my shares will realize much more value than what is printed on the tape ...more  
Comment by YancyDerringer on Jun 29, 2023 10:30am
Exactly right! :)YD
Comment by hcarbon on Jun 30, 2023 5:43am
Thanks for your post! Don't you see a risk in the lack of info regarding API for the oil in the Santonian?
Comment by Hotshot85 on Jun 30, 2023 10:10am
The risk here is going to be porosity, permeability and pressure. 
Comment by geomanx02 on Jun 30, 2023 7:54pm
Add to  the risk......gas vs oil in primary objective plus reservoir continunity......remember , CGX qualified the secondary target as "oil" bearing while they qualified the primary target as  "hydrocarbons".....whatever that means.... only The Shadow knows..... Will be enlightening when the data is released......this is sort of like Texas Hold'Em.......waiting ...more  
Comment by ljmorin on Jun 30, 2023 8:44pm
As they had the tool failure, could it not be they were legally bound not to say anything other than hydrocarbons? Until the 3rd party results confirm one way or another? We certainly know it's not water and seemingly had a good seal. lj.
Comment by waitingstill on Jun 30, 2023 10:44pm
He is spreading unsubstantiated fear. This is oil and most likely light sweet oil. The final results will show this.
Comment by SportyJ on Jun 30, 2023 9:22pm
Recafmanx02, you couldn't find oil in a can. But you are added to my popular and ever growing ignore list. 
Comment by Kelvin on Jul 01, 2023 12:35am
Sporty, The people fudding around should read up on the nuclear magnetic resonance spectroscopy logging tool and then try to suggest that they don't know what the formation fluid type is. Together with density, gamma, neutron, spontaneous potential, resistivity logs correlated with litholigy from the mud loggers and seismic they already pretty much know what's there. Lol, I just read up on ...more  
Comment by geomanx02 on Jul 01, 2023 9:50am
SportyJ......Unfortunate you won't see this post....but here goes, am 80 yrs old and found enough oil that I retired at 40 yrs old......and yes, my royalty checks are still significantly larger than my SS checks....LOL Since you choose to not read my post suggest you pay attention to what shedrills has to say...a person in the know!!!
Comment by SheDrills on Jul 01, 2023 10:35am
My impression of "biggest risk" at this stage is porosity, permeability and reservoir continuity...not fluid type.  That's why I believe the majors will wait until the lab results come back before they start drawing up Expressions of Interest letters. Though I didn't speak to Frontera directly, I spoke w/ 2 institutional investors and a geologist who is a retail investor ...more  
Comment by SportyJ on Jul 01, 2023 11:26am
SD, there is only one positive catalyst on the horizon, a buyout/farm down. There are a bunch of potential negative catalysts: time, finances, lab results, sp erosion, governmental pressure, etc No, the majors know what N Corentyne holds. They knew with Kawa and they know with Wei. They don't need 2-3 months. Thats why the majors are majors. Waiting on some janky lab result is for plebs not ...more  
Comment by Kelvin on Jul 01, 2023 12:03pm
Well Sporty, I am encouraged by the fact that pre 3-D seismic and magnetic resonance spectroscopy logging tools a lot of oil was found by oil companies joining together based on probabilties discerned from data that is a fraction of the data currently accumulated in this play so far thanks to technological advancements. Probabilty is what this calculation is all about. Back in my day we had a ...more  
Comment by SheDrills on Jul 01, 2023 12:27pm
The majors don't know everything...that's why dry holes still occur as well as numerous appraisal and flow tests. There is a process of gathering data, analyzing it and refining models. And I would and am (by holding shares) betting that numerous majors will be heading back to Frontera & CGX data room to decide whether or not it's time to take a giant bite of their Working ...more  
Comment by Phantomblogger on Jul 01, 2023 11:38am
woah, what a smooth pumper!
Comment by SheDrills on Jul 01, 2023 12:33pm
You cry babies are obsessed w/ trying to discredit me.  I'm currently 2 for 2 on exploration success in this license and from the start I've said the catalyst is farmdown to a major which we are still waiting on. Maybe you need to look in the mirror and ask yourself if you provide any value w/ your attacks because clearly you're not slowing my public feedback on social media & ...more  
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