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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 > Exploration manager gone
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Post by westcanpride on Sep 04, 2023 7:39pm

Exploration manager gone

Strong suggestion, via stocktwits, that CGX exploration manager Paul Langlois is no longer with the company. Seems like a couple other folks are also no longer with the company. 

Unless he left on his own (ie, found another job), the layoff of a exploration manager before the final release of the fluid and Wei-1 lab results is quite interesting. My sincere guess is that Frontera is working on a final JV/buyout and CGX is just along for the ride at this point. Otherwise, why else release the one man who would be able to make educated decisions on the value of potential JV/buyout offers that other companies have made in the coming weeks/months. 

Like I said last week, Suresh and his group of useless henchmen provided a smoke and mirror AGM. 100% guaranteed both Frontera and CGX know the fluid/lab results. Guaranteed they know that a JV/buyout deal is going through and thus key people are now no longer needed. 

Guess we see soon enough. Unlike the other losers working for CGX, Paul L was one of the few good ones. Identifying solid drilling locations is very difficult task and he helped provide CGX/Frontera with a fantastic discovery. He will no doubt be gainfully employeed again by some other company.

Comment by Schreibzey on Sep 04, 2023 7:49pm
 "Led all resource evaluations and third-party evaluations for CGX Operations in Guyana.” direct quote from Paulys CGX experience on LinkedIn.   Wouldnt you need your geo modeling reserves guy when you want a deal to happen? Doesn't make sense to negotiate with this guy? I'd say it's a done deal. Like you WCP, that AGM was smoke and mirrors, they know the lab ...more  
Comment by SheDrills on Sep 04, 2023 8:18pm
IMO losing Paul prior to a buyout announcement is yet another nail in the coffin thanks to Suresh.  Paul L is more valuable than he is when it comes to arguing acreage value. Once I'm officially no longer a CGX shareholder I vow to never be invested in another company Suresh holds a management position in.
Comment by westcanpride on Sep 04, 2023 8:55pm
You nailed it Schreibzey!  Last Thursday was the AGM... the fact these folks in CGX can do a AGM with a straight face, literally lying about how great of a job they are doing, and then simultaneously let go of multiple people including their exploration manager... that just screams pathetic and gutless. Especially a guy like Paul... literal brains of the whole operations. Like I said long ...more  
Comment by waitingstill on Sep 04, 2023 9:21pm
Seriously, did you guys really think anyone at CGX doing anything remotely connected to deal making?! Have you not been watching this show for the past x years? Do you think at this point FEC was going to let Paul or anyone else at CGX make decisions related to their 78 percent ownership. And if Paul was so instrumetal in evaluating CGX acreage, did he sign off on the 4.7 percent deal for a ...more  
Comment by Tangier2 on Sep 05, 2023 9:13am
Seems to me they are in no position to do more drilling anytime soon, so the expense of keeping him was a luxury they can't afford.  This seems more likely than any imminent potential JV/Buyout offer.
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