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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 > AGM questions
View:
Post by westcanpride on Aug 26, 2024 1:05pm

AGM questions

1) what would allow the current prospective resources to become contingent resources? What was the hesitancy by the two current labs who did the independent analysis? Prospective are by definition "undiscovered". Is the current dilemma the poor quality of well logs/lack of fluid quality certainty? They should least tell us. 

2) how can the JV team submit a notice of potential commercial interest with "undiscovered" resources (as per prospective resource definitions)? Clearly the challenge is confidence in subsurface data... these guys should be hammered on these points. Especially that fat pig Durkee as current VP of Development. 

3) are we ever going to get resource estimates (prospective) for the deeper horizons? Or is this a complete lost cause? 

4) did the JV team use different net pay cutoffs for the different stratigraphic horizons? If so, why. 

5) when the hell will the port finally become operational (in any capacity)? Does the company actually have any contracts in place to actually make money once operational? 

6) how much money to date has been injected into building the port? How much money still remains? 

7) final cost estimates of money spent in corentyne and thus amount eligible for cost recovery. 

8) why has the government soured so badly on JV relations? Is the corentyne block truly lost and thus CGX screwed? If CGX still does have the block, why is the government saying otherwise in the media (actually recorded on tape and preserved online via YouTube videos). In short, who the hell is lying here? 

9) why hasn't a JV or farmdown occurred. Clearly something is amiss here. Generic nonsense like "still working on it" shouldn't suffice as an answer. Hammer these degenerates and force them to least acknowledge something. 

I am sure many other folks have similar questions and many more. I hope these losers get absolutely hammered with questions and mocked for their laziness and stupidity. It's our money (or lack thereof) on the line at this point and clearly these losers couldn't care less about the company going down the toilet. Down 85% year over year and hell over 50% since January. 

Hopefully some honest dialogue might occur.

Comment by Schreibzey on Aug 26, 2024 1:29pm
Maybe someone can ask: 1. Why did Tribukait decide against seeking re-election? 2. Is the plan to go forward with 5 Board of Directors and a non-independent board, against the recommendations set in 58-201? 3. How is Dennis Mills considered Independent , having participated in the Pacific Rubiales PP in 2013 if De Alba and Cabrales being part of FEC are considered non-independent?  4 ...more  
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