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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 > Government needs to act asap
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Post by westcanpride on Nov 16, 2023 11:44am

Government needs to act asap

Imagine a government desperate to see new oil production. Imagine a government willing to do whatever it takes to help support new construction of onshore projects to help build infrastructure. Imagine a government literally willing to do whatever it takes to see progress in a country lacking behind many first world countries. 

In return, we have CGX/Frontera act like useless amateurs. They show no ambition to finish the port and always make excuses. They withhold/hide data from the public regarding offshore G&G drilling results... and worse, it's clear they have no concept of what the G&G data represents and instead mislead/lie when confronted. In short, this current JV team is the exact opposite of what the government is trying to accomplish in Guyana. 

At some point, the government needs to end their relationship with this useless JV team and push out an ultimatum.... in other words, force them to make a bloody farm down deal to a major IOC/NOC or face further relinquishing of northern Corentyne via new aggressive timelines/demands. 

These losers have already written off billions of barrels in Santonian targets because of their stupidity... does the government really want them to screw up Maastrichtian potential as well? Given their history and clear lack of technical expertise, wouldn't shock me if they screwed that opportunity up as well.

Comment by ohcanada17 on Nov 16, 2023 12:26pm
Agree... Government needs to put a lot of pressure on them here too force a sale or farm down. They need a major to take over here and maximize the potential.
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