Bullboard - Stock Discussion Forum 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... see more

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CGX Energy Inc > Silence is a killer

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Post by Dell1 on Nov 04, 2023 4:21am

Silence is a killer

At this point we could only guess what is really happening behind the scene. I can speculate that if we don't get any significant updates on Friday that will mean that results are not spectacular. Even if the management is involved in the takeover they should be talking positive about current/expected lab results.Usually takeovers occur after Q results. I am sure not that many investors are interested in Frontera operation updates in Colombia & Ecuador.
We are expecting Haimara-2 update in November. I am expecting by the end of November. The Bluefin-1 hasn't been spotted yet. The Bluefin-1 results should be released by Christmas is the earliest or in 2024.

What do you think?

Accusing management of not doing their job correctly is not going to get you anywhere. They are doing what they can and in the their best interest to get paid.

On the positive note Frontera stock has been steadily going up this month.

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Comment by joeblows on Nov 04, 2023 4:47am

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Comment by ShooterMcG on Nov 06, 2023 9:18am

Bluefin-1 has been drilled.

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Comment by waitingstill on Nov 06, 2023 9:26am

Anyone know which rig they used? Is it moving? If true, wonder if they will announce results?

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Comment by ShooterMcG on Nov 06, 2023 9:49am

They used the Stena DrillMax. It looks to have gone back to drilling development wells near the main Liza field. https://marad.gov.gy/wp-content/uploads/2023/09/Notice-To-Mariners-132-of-2023.pdf

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Comment by Schreibzey on Nov 06, 2023 9:53am

I could be wrong, but I use Ship Atlas and never seen the DrillMax leave Stabroek in light of the aforementioned MARAD notice. Stena Carron is on site at Haimara-2, but no ships have been on the coordinates I'm tracking for BlueFin.

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Comment by waitingstill on Nov 06, 2023 9:57am

As of Nov 3, it was still on the drill location with "restricted maneuverability". That means it has not left yet. What makes you think it has? The MURAD notice? If so, that is a general notice that should not be relied upon. Do you have anything else to support that the drill is done?

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Comment by ShooterMcG on Nov 06, 2023 10:11am

I've not been tracking, so maybe it hasn't moved and drilled the well. Just sharing what I thought from the maritime notices and news articles.

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Comment by waitingstill on Nov 06, 2023 10:18am

Okay. I think it is much too early for them to be done. Maybe by end of Nov if we are lucky. Hopefully they hit big and announce a few hundred feet of pay. This is like a free $200mil drill for us considering they are drilling our prospect from their side of the concession. Everyone should be excited about this hole.

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