CGX Energy Inc (CGXEF)

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Guyana ‘sweet crude’ revives dreams in once thriving Bauxite town
By Oil Now - January 21, 2018

http://oilnow.gy/featured/guyana-sweet-crude-revives-dreams-thriving-bauxite-town/

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ExxonMobil Guyana prepared to mitigate Liza Phase 2 potential environmental impacts
By Oil Now - January 23, 2018


http://oilnow.gy/featured/exxonmobil-guyana-prepared-mitigate-liza-phase-2-potential-environmental-impacts/

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Exxon will begin new drilling foray at Pacora prospect in Guyana this week
By Oil Now - January 21, 20180

http://oilnow.gy/news/exxon-will-begin-new-drilling-foray-pacora-prospect-guyana-week/

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ExxonMobil makes sixth oil discovery off Guyana
10 Jan 2018, 1.45 pm GMT

Kingston, 10 January (Argus) — ExxonMobil has made a sixth oil discovery on Guyana's deepwater Stabroek block, expanding recoverable resources from the acreage to more than 3.2bn bl of oil equivalent (boe), the company said.

The latest find was made in the Ranger-1 well that was spudded on 5 November 2017, and which "encountered around 230ft (70m) of high-quality, oil-bearing carbonate reservoir," ExxonMobil said.

The well was drilled to 21,161ft in 8,973ft of water.

ExxonMobil operates 6.6mn acre (26,800km2) Stabroek with a 45pc stake. US independent Hess holds 30pc, and the remaining 25pc belongs to Chinese state-owned CNOOC unit Nexen.

ExxonMobil's string of successful wells in Guyana started in May 2015, when it discovered more than 1bn bl of oil equivalent, featuring 32°API crude, at its Liza-1 well on Stabroek about 130mi offshore.

Guyana currently produces no hydrocarbons, and imports refined products from Trinidad and Tobago and the US to meet demand of about 12,800 b/d.

ExxonMobil will start production from its Stabroek wells in March 2020, the company's Guyana country manager Rod Henson said on 28 December 2017, adding that initial output will represent "only a fraction" of the the block's potential.

"It will be somewhere between 100,000 b/d and 120,000 b/d, and we will continue to try to accelerate on that."

Guyana anticipates offshore oil production of about 320,000 b/d by 2025, government officials in the sparsely populated South American country told Argus in October 2017.

"The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2bn recoverable oil-equivalent barrels" ExxonMobil said.

Ranger-1 was worked by the Stena Carron drillship that is moving to the Pacora prospect near the Payara discovery, the company said.

"Additional exploration drilling is planned on the Stabroek block for 2018, including potential appraisal drilling at the Ranger discovery."

Oil that will be produced in Guyana will be exported as the country has no refineries. The country is still considering whether it will ask ExxonMobil to refine the country's portion that will be 14,000 b/d at the start of production, or accept a proposal from Trinidad's state-run oil company Petrotrin that operates a 168,000 b/d refinery, Guyana's natural resources minister Raphael Trottman said in 29 December.

Guyana's offshore acreage is part of the Guyana-Suriname basin that the US Geological Survey says contains an estimated 13.6bn bl of oil and 32 Tcf of gas yet to be discovered.

ExxonMobil's discoveries have significantly de-risked the Guyana-Suriname basin attracting several other companies including Chevron, Total, Repsol and Germany's DEA.

But offshore Guyana exploration remains under the shadow of a longstanding territorial dispute with Venezuela that has claimed sovereignty over the resource-rich Essequibo province that makes up the western two thirds of Guyana. The dispute has prevented the countries from demarcating their maritime boundary.

Caracas has previously expressed its opposition to the Stabroek activity, but has been quiet for at least a year as it focuses on quelling internal strife.

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CGXEF buy 0.1118

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May 1 - CGX Files Year-End Audited Financial Statements
Link:
http://www.newswire.ca/news-releases/cgx-energy-files-year-end-audited-financial-statements-620943133.html
TORONTO, May 1, 2017 /CNW/ - CGX Energy Inc. ("CGX Energy" or the "Company") announced today the release of its audited consolidated financial results for the year ended December 31, 2016, together with its Management Discussion and Analysis. These documents will be posted on the Company's website at www.cgxenergy.com and SEDAR at www.sedar.com.

Professor Suresh Narine, Chairman of CGX Energy and newly appointed its Executive Director, Guyana on April 14, 2017, commented: While the global downturn in petroleum prices has significantly affected the company over the past two years, the de-risking of the Guyana basin through multiple large discoveries has simultaneously provided enough buoyancy to allow the company to take steps to restructure its debt and prepare to continue exploration. The company has been aided significantly in this regard through the support of its major shareholder, Pacific Exploration & Production Corporation, which was successfully restructured after being also affected by the downturn in prices. The next several months are important ones for the company as we restructure and begin preparing to play our role in the further exploration of the Guyana basin. I wish to thank the Ministry of Natural Resources and the Guyana Geology and Mines Commission for their cooperation and collaboration, especially over the past 12 months.

2016 Year-End Overview and Highlights

On April 26, 2017, the Company entered into a bridge loan agreement (the "Bridge Loan III") with Pacific Exploration & Production Corp. ("Pacific") in the aggregate principal amount of up to $3,100,000. The Bridge Loan is a non-revolving term facility. The Bridge Loan III accrues interest at an annual rate of 5% per annum and is repayable in full including all accrued interest in April 2018. The Company may draw all or part of the Bridge Loan III in one or more advances to be made on a date or dates agreed to by both parties. Pacific has the right to take a pledge of shares of CGX's subsidiaries in an event of default under the Bridge Loan III. As of April 28, 2017, the Company had drawn down approximately $1,410,000 on the Bridge Loan III.

On October 13, 2016, the Company entered into a bridge loan agreement (the "Bridge Loan II") with Pacific in the aggregate principal amount of up to $2 million. This facility was used to help CGX fund monthly general and administrative expenses and was a drawdown facility that was approved by Pacific on a monthly basis. The Bridge Loan II accrues interest at an annual rate of 5% per annum and is repayable in full including all accrued interest in October 2017. Pacific has the right to take a pledge of shares of CGX's subsidiaries in an event of default under the Bridge Loan II. As of April 28, 2017, the Company had fully drawn on the Bridge Loan II.

On March 4, 2016, CGX entered into a bridge loan facility (the "Bridge Loan I") with Pacific in an amount up to $2 million. This facility was used to help CGX fund monthly general and administrative expenses and was a drawdown facility that was approved by Pacific on a monthly basis. The Bridge Loan I accrues interest at an annual rate of 5% per annum and is repayable in full including all accrued interest in March 2017. Pacific has the right to take a pledge of shares of CGX's subsidiaries in an event of default under the Bridge Loan I. The Company had fully drawn on the Bridge Loan I.
On November 16, 2015, Company agreed to issue a convertible debenture (the "Convertible Debenture") by private placement in the amount of $1.5 million to Pacific. The Convertible Debenture has a term of twelve months and an annual interest payable of 5% and was convertible at the option of the holder at a conversion price of C$0.335. The Convertible Debenture has been funded in full. Pacific has the right to take a pledge of shares in the Company's subsidiaries in an event of default under the Convertible Debenture.

Pursuant to the terms of the Petroleum Prospecting Licences ("PPL") governing the Corentyne Block, the Company is currently negotiating the terms of an extension of the spud date for its next exploration well on the block. The previous spud date was July 1, 2016. The Company is also currently negotiating extensions on its commitments of its Demerara and Berbice PPLs.

The Company continues to negotiate with its trade creditors, including with respect to the approximately $14.4 million owed to Japan Drilling Co., Ltd. (excluding interest), approximately $9.5 million owed to Prospector PTE. Ltd. (excluding interest), and the approximately $2.9 million owed to Teikoku Oil (Suriname) Co., Ltd. (excluding interest), with a view to determining how to address these significant payables in light of depressed oil prices. For further information regarding these payables, please see the Company's financial statements.

Executive Appointment and Option Grant

CGX Energy also announces that on April 14, 2017 its Board of Directors appointed Professor Suresh Narine, as its Executive Director, Guyana, subject to regulatory approval. Professor Narine will remain as a director of the Company. In conjunction with his appointment, the Board of Directors has agreed to grant Professor Narine incentive stock options to purchase 1,000,000 common shares of the Company. The stock options will be granted on May 2, 2017 pursuant to the Company's stock option plan and will be exercisable at a price equal to the closing market price on such date. The options will expire on May 2, 2022.


Read more at http://www.stockhouse.com/companies/bullboard#oVRkebQyrJ2PqSIR.99

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Oil, gas onshore supply base to be built in 2017

– over 600 jobs to be created
Approximately 600 persons are expected to benefit from employment with the construction of an onshore supply base in 2017. Minister of Natural Resources, Raphael Trotman said that the base will be erected at Crab Island, in the Berbice River, in the new year, to the tune of US$500M.
The minister who was briefing the media at a year-end press conference yesterday, at the ministry’s boardroom, Brickdam, explained that the facility is long overdue and is part of the raft measures intended to ensure that Guyana keeps on the right trajectory in the development of the oil and gas sector.

Minister Trotman said that to date “interviews with a significant number of both local and international interested parties were held at the end of October and early November 2016” to further enhance the sector.
Just two weeks ago, the Ministry of Natural Resources signed a contract with SBM Offshore NV for a Floating Production, Storage and Offloading facility (FPSO) to be constructed. Guyana is likely to commence oil production in 2020.
The onshore facility is expected to supply components to the offshore production vessel. At a recent oil and gas meeting with Minister Trotman, Director of oil and gas at Ernst and Young, Christ Pateman said that the supply base must consist of components including the maintenance fabrications, warehousing, spares, housing, and spares handling among others.
Minister Trotman pointed out that the job creation from the establishment of the onshore supply base facility will enable and enhance the labour force. “Government recognises the need for a highly skilled workforce in the oil and gas sector, and therefore will be investing in building the capacity of professionals and technicians.”  Therefore, the Government has a development plan that outlines every aspect of the steps to oil production. This complex and critical document is now awaiting approval by international experts whom the government will be engaging shortly, Minister Trotman explained.
The Natural Resources Minister indicated that the government, with support from partners is seeking to build the capacity of policy makers, officers, technicians, private sector professionals and all stakeholders on the issue and challenges surrounding the emerging sector.
Additionally, Minister Trotman pointed out that the Government will be embarking on a nationwide and Diaspora three-month outreach programme in January 2017 to enlighten citizens on the implications of, and to present proposed policies and legislation pertaining to the various aspects of the evolving oil and gas industry.
The aim of this exercise is to keep “stakeholders, including the parliamentary opposition, and the populace, informed and engaged at every stage of the development of the oil and gas sector,” Minister Trotman said.(GINA)

http://www.inewsguyana.com/oil-gas-onshore-supply-base-to-be-built-in-2017/

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CGX Energy Inc. > DEC-15-2016: POTENTIAL 2ND EXXON DISCOVERY OFFSHORE

DEC-15-2016: POTENTIAL 2ND EXXON DISCOVERY OFFSHORE GUYANA
It would appear Exxon has made another discovery offshore Guyana - namely the 'Payara' prospect.

Recall, the 'Payara' prospect lies North West from 'Liza' - which is fairly close to CGX's Demerara...

...Exxon has drilled a number of successful wells since first announcing that its Liza 1 well contains at least 1.4 billion barrels of oil and an undisclosed amount of gas.

Only “Skip Jack,” one of the five wells Exxon has drilled so far has come up dry and the company is holding back on announcing positive results from the “Payara” well, its latest bore hole to avoid messing with international oil prices which have been climbing in recent weeks.

http://www.caribbeanlifenews.com/stories/2016/12/2016-12-16-bw-tillerson-trump-pick-cancels-guyana-visit-cl.html

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http://newssourcegy.com/news/exxonmobil-makes-another-major-oil-discovery-offshore-guyana/

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CGX Energy Provides Operational Update

Source: PR Newswire (Canada)
(TSX-V | OYL)

TORONTO, Oct. 18, 2016 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX Energy" or the "Company") today provided an operational update on its exploration assets in Guyana.

Berbice Port Project

As previously announced, on April 18, 2016, the Company entered into a term sheet (the "Term Sheet") with a potential partner (the "Partner") in respect of the Company's wharf and logistics yard located in Berbice, Guyana (the "Berbice Port Project"). Pursuant to the Term Sheet, as amended, the Company provided the Partner and its advisors a seventy-five day exclusivity period within which to conduct further due diligence and to allow the parties time to negotiate definitive documentation (the "Exclusivity Period"). The Term Sheet was amended to extend the Exclusivity Period until August 20, 2016. Following the expiry of the Exclusivity Period, the Company lost confidence in certain counter parties to the Term Sheet for several reasons, including the Company's inability to confirm the financial capacity of the funding parties to complete the transaction proposed by the Term Sheet. After subsequent discussions, the parties agreed not to enter into a definitive agreement at this time. In connection with the granting of the Exclusivity Period, the Company received U.S.$50,000 as non-refundable deposit as part of the Term Sheet.

Serafino Iacono, Co-Chairman of the Company, commented: "Unfortunately, we abandoned the proposed transaction for a number of reasons, including as a result of the Partner not being able to demonstrate the financial wherewithal to complete the purchase of the assets and fund the requisite capital expenditures required under our proposed partnership. Ultimately, the Company could not risk entering into a definitive agreement with a partner that could not demonstrate a baseline ability to meet their financial commitments under the proposed terms of the transaction."

The Company is now actively seeking a new partner to help in the development of its Berbice Port Project. The Berbice Port Project consists of: (i) 15.6 acres freehold land asset containing an existing logistics yard; and (ii) a 50-year land lease from the Government of Guyana for a 55 acre property near the mouth of the Berbice River. The objective of purchasing this land was to build a deep sea port to service the offshore oil and gas exploration industry in the Guyana-Suriname Basin (the "Berbice Port Project"). The Company currently has interest from several parties and is seeking to enter into a definitive agreement in respect of the Berbice Port Project by year-end. For more information on the Berbice Port Project, please see the Company's website at: http://www.cgxenergy.com/cmsAssets/docs/pdf/Port%20Project%20Flyer_v1.pdf.

It is anticipated that the offshore exploration and production industry in the Guyana-Suriname Basin is set to expand dramatically in light of the most recent drilling success of Exxon Mobil. With the significant restrictions facing the Port of Georgetown, the Berbice Port Project provides the Company with a significant opportunity to develop the main deep water port facility in Northeast South America.

Corentyne Block

CGX Energy continues its initiatives to secure a joint venture partner for all three Petroleum Prospecting Licences ("PPL") and is actively pursuing this initiative. Pursuant to the terms of the PPL governing the Corentyne Block, the Company is currently negotiating the terms of an extension of the spud date for its next exploration well on the Corentyne Block. The previous spud date was July 1, 2016. The Company has received initial comments from the Government of Guyana and hopes to resolve the negotiation early in the fourth quarter.

"We are optimistic about our approach to the Government of Guyana to negotiate new terms of the PPL governing the Corentyne Block. We have a long history in Guyana and look forward to continuing normal operations upon conclusion of our negotiations," comments Suresh Narine, Co-Chairman of the Company

Demerara Block

CGX Energy and Prospector PTE. LTD ("Prospector") have entered into an addendum contract whereby Prospector will complete further processing on the Demerara Block 3D seismic data at maximum cost of U.S.$550,000 to be paid upon completion. This project will help the Company further delineate the prospectivity of the block. In 2014, Prospector under the original agreement with CGX Energy conducted a 3,116.74 km2 3D seismic survey on the Demerara Block. As part of the amended contract, CGX Energy's overall interest rate on debt to Prospector has been reduced to 6% per annum.

Dewi Jones, Chief Executive Officer of the Company commented: "CGX Energy continues to have a very good working relationship with Prospector and we look forward to completing this project with them as soon as possible."

Bridge Loan Facility

CGX Energy has entered into a bridge loan facility with Pacific Exploration & Production Corp. ("Pacific") in an amount up to U.S.$2 million. This facility shall be used to help CGX Energy fund monthly general and administrative expenses and is a drawdown facility that is approved by Pacific on a monthly basis. Pacific has the right to take a pledge of shares of CGX Energy's subsidiaries in an event of default under the facility. Pacific owns 50,351,929 common shares in the capital of CGX Energy, representing approximately 45% of the issued and outstanding common shares on a non-diluted basis.

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Forward-Looking Statements:
This news release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur in the future. These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy. CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. There can be no assurance that any transaction involving the Berbice Project materializes and investors should review the other risks that may affect the forward-looking statements in this news release, which are outlined further in the Company's Annual Information Form dated April 29, 2015 filed on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and CGX Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE CGX Energy Inc.


Copyright 2016 Canada NewsWire

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CGX Energy Files Second Quarter Financial Statements

Source: PR Newswire (Canada)
(TSX-V | OYL)

TORONTO, Aug. 29, 2016 /CNW/ - CGX Energy Inc. ("CGX Energy" or the "Company") announced today the release of its unaudited consolidated financial results for the quarter ended June 30, 2016, together with its Management Discussion & Analysis ("MD&A"). These documents will be posted on the Company's website at www.cgxenergy.com and SEDAR at www.sedar.com.

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Forward-Looking Statements:

This news release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur in the future. These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy. CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition, other risks that may affect the forward-looking statements in this news release are outlined further in the Company's Annual Information Form dated April 29, 2015 on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and CGX Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE CGX Energy Inc.


Copyright 2016 Canada NewsWire

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http://www.stabroeknews.com/2016/news/stories/07/30/exxonmobil-seeking-acreage-oil-search/

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CGX Energy Announces Changes to its Board of Directors

Source: PR Newswire (Canada)
(TSX-V | OYL)

TORONTO, July 29, 2016 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX Energy" or the "Company") announced today that the Company has accepted Mr. José Francisco Arata's resignation as director of the Company effective immediately.

The Company is pleased to announce the appointment of Mr. Michael Galego to the board of directors effectively immediately and subject to applicable regulatory approvals. Mr. Galego is currently the General Counsel and Secretary of the Company and has worked closely with the board since his appointment in April of 2013.

"We extend our appreciation to Mr. Arata for his dedication and service to the Company," commented Suresh Narine, Co-Chairman of the Company. "We also would like to welcome Mr. Galego to the Board of Directors and look forward to working with him in this new capacity."

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Forward-Looking Statements:
This news release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur in the future. These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy. CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition, other risks that may affect the forward-looking statements in this news release are outlined further in the Company's Annual Information Form dated April 29, 2015 filed on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and CGX Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE CGX Energy Inc.


Copyright 2016 Canada NewsWire

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CGX Energy Announces Annual and Special Meeting Voting Results and provides Operational Update

Source: PR Newswire (Canada)
(TSX-V | OYL)

TORONTO, July 4, 2016 /CNW/ - CGX Energy Inc. ("CGX Energy" or the "Company") announced today the results of its Annual and Special Meeting of Shareholders and provided an updated update.

Voting Results

The Company's annual and special meeting of shareholders was held on Thursday June 30, 2016, where each of the seven nominees proposed as directors pursuant to the Company's management proxy circular dated May 30, 2016 were elected as directors. Each of the following directors were elected to the Board of Directors: José Francisco Arata, Serafino Iacono, Dennis Mills, Suresh Narine, Marino Ostos, Ronald Pantin and Dennis Pieters.

Corentyne Petroleum Prospecting License

As announced on June 19, 2015, the Company received approval to extend its spud date deadlines on the Corentyne block, offshore Guyana. The Government of Guyana granted approval of the extensions effective June 18, 2015 for the spud date on the first commitment well from October 31, 2015 to July 1, 2016 and an extension to the spud date deadline on the second commitment well from November 27, 2016 to November 27, 2017. The Company is currently in discussions with the Government of Guyana with respect to a further extension of the first exploration well from July 1, 2016 to July 1, 2018.

Professor Suresh Narine, Co-Chairman of the Company, commented: "The Company deeply appreciates the continued co-operation and support of the Government of Guyana in its willingness to work collaboratively with CGX Energy, particularly in light of sustained depressed international oil prices."

Exxon Discovery

On Thursday June 30, 2016, Exxon Mobil Corporation announced the drilling results from the Liza-2 well, the second exploration well in the Stabroek block, offshore Guyana and confirmed a discovery. "We continued to be very encouraged by the subsequent drilling results from Exxon and hope to be in a position to capitalize on the heightened interest in the Guyana-Suriname basin," comments Dewi Jones, Chief Executive Officer.

Berbice Wharf – Extension of Exclusivity

As previously announced, CGX Energy entered into a term sheet with a potential partner (the "Partner") in respect of CGX's wharf and logistics yard located in Berbice, Guyana (the "Term Sheet"). Upon signing the Term Sheet, the Company received a non-refundable deposit in the amount of U.S.$50,000. The Term Sheet also provided the Partner with a seventy-five day exclusivity period within which to conduct further due diligence and to allow the parties to negotiate definitive documentation the ("Exclusivity Period"). The Exclusivity Period has been extended to July 15, 2016 in order for the parties to enter into definitive agreements in respect of the transaction contemplated by the Term Sheet.

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Forward-Looking Statements:

This news release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur in the future. These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy. CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition, other risks that may affect the forward-looking statements in this news release are outlined further in the Company's Annual Information Form dated April 29, 2015 on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and CGX Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE CGX Energy Inc.


Copyright 2016 Canada NewsWire

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http://www.businessfinancenews.com/29460-exxon-mobil-corporation-discovers-large-hydrocarbons-in-liza-appraisal-well/

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http:/www.businessfinancenews.com/29460-exxon-mobil-corporation-discovers-large-hydrocarbons-in-liza-appraisal-well/

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http://www.kaieteurnewsonline.com/2016/06/26/second-oil-well-confirms-guyanas-massive-oil-reserve/

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http://demerarawaves.com/2016/04/04/mid-atlantic-exxonmobil-partner-in-oil-and-exploration/

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http://demerarawaves.com/2016/02/26/exxonmobil-spuds-guyana-appraisal/

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Director- John Cullen resigns

http://www.newswire.ca/news-releases/cgx-energy-announces-director-resignation-568388971.html

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http://www.cgxenergy.com/cmsAssets/docs/presentations/CGX_Energy_Inc_Corporate%20Presentation_May_2015_v3.pdf

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https://www.upstreamonline.com/live/1422825/exxonmobil-nears-guyana-appraisal

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$250 million to drill 4 wells offshore in
Guyana

https://marketrealist.com/2016/02/hesss-4q15-earnings-better-estimates/

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http://www.inewsguyana.com/exxonmobil-to-commence-drilling-second-well-soon/

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http://www.stabroeknews.com/2016/news/stories/01/27/repsol-applies-exploration-licence-near-stabroek-block/

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CGX Energy Enters into Settlement Agreement and welcomes Japan Drilling as a Significant Shareholder

Source: PR Newswire (Canada)
(TSX-V | OYL)

TORONTO, Jan. 21, 2016 /CNW/ - CGX Energy Inc. ("CGX Energy" or the "Company") announced today that the Company and CGX Resources Inc. ("CGX Resources") have entered into a definitive settlement agreement (the "Settlement Agreement") with Japan Drilling Co., Ltd. ("JDC") with an effective date of November 30, 2015.

"We are pleased to have JDC as a significant shareholder in the Company and look forward to working with them in the future," said Dewi Jones, Chief Executive Officer of the Company. "We are grateful to JDC for their continued support of the Company through this period of depressed oil prices."

On June 19, 2014, CGX Resources, a wholly-owned subsidiary of the Company, entered in to: (i) a drilling rig agreement (the "Drilling Agreement") with JDC for the use of JDC's HAKURYU-12 drilling rig (the "Rig"). As previously announced, on August 28, 2015, CGX Energy, CGX Resources and JDC entered into a settlement term sheet whereby the parties agreed to terminate the Drilling Agreement and settle amounts owing to JDC in the amount of U.S.$20.35 million (the "JDC Payable") in exchange for the issuance of 16,522,500 common shares in the capital of CGX Energy (the "Settlement Shares") and the deferral of the JDC Payable in the amount of U.S.$14.85 million. The parties subsequently entered into the Settlement Agreement in respect of the issuance of the Settlement Shares and the settlement of the JDC Payable. Pursuant to the terms of the Settlement Agreement, the parties agreed that the JDC Payable shall be settled as follows: (i) U.S.$500,000 by December 1, 2015 (the "First Payment"); (ii) U.S.$7.18 million by March 25, 2016; and (iii) U.S.$7.18 million by June 15, 2016. CGX Energy has paid U.S.$100,898.63, representing U.S.$100,000 plus accrued and unpaid interest thereon from and including December 1, 2015, in respect of the partial settlement of the First Payment on January 11, 2016 and JDC has agreed to the deferral of the remaining balance of the First Payment (plus accrued and unpaid interest thereon from and including December 1, 2015) which shall be made no later than by March 25, 2016.

The 16,522,500 Settlement Shares were issued to JDC on January 11, 2016 after receiving approval from the TSX Venture Exchange. The Settlement Shares represent U.S.$5.5 million of the JDC Payable and were issued at a subscription price of Cdn.$0.44 per share. The Settlement Shares represent approximately 15% of all issued and outstanding common shares on a non-diluted basis. The Settlement Shares are subject to a hold period expiring May 12, 2016, representing four months and one day after the date of issuance.

As part of the Settlement Agreement, the Company also provided JDC with a parent guarantee in respect of the JDC Payable which shall be reduced upon each applicable repayment of the JDC Payable, including the issuance of the Settlement Shares.

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Forward-Looking Statements:
This news release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur in the future. These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy. CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition, other risks that may affect the forward-looking statements in this news release are outlined further in the Company's Annual Information Form dated April 29, 2015 filed on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and CGX Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE CGX Energy Inc.


Copyright 2016 Canada NewsWire

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http://www.oedigital.com/component/k2/item/9162-wm-exxonmobil-s-guyana-well-economic-at-us-70-bbl

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http://www.oedigital.com/regions/north-america/item/10667-globaldata-liza-could-redefine-guyana-suriname

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http://www.oedigital.com/component/k2/item/11365-eco-atlantic-tullow-enter-guyana

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http://www.stabroeknews.com/2016/news/stories/01/16/drillship-inbound-new-exxon-wells/

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http://www.inewsguyana.com/repsol-asks-for-extension-to-continue-work-at-kanuku-block/

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This week on The Bit, Upstream's weekly podcast, we look ahead to ExxonMobil's upcoming drilling campaign off Guyana, plus Mexico deep-water, shale debt and more.

http://www.upstreamonline.com/live/1420847/podcast-gearing-up-in-guyana

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"Guyana to start offshore oil production soon"

http://www.presstv.ir/Detail/2016/01/06/444795/guyana-ExxonMobil-offshore-oil-gas-/

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ExxonMobil pushes ahead with oil exploration

December 16, 2015 7:57 am Category: Business A+ / A-
Minister of Governance Mr. Raphael Trotman pays keen attention as the Captain of the Fugro Americas explains the vessel’s capabilities.
Minister of Governance Mr. Raphael Trotman pays keen attention as the Captain of the Fugro Americas explains the vessel’s capabilities.
[www.inewsguyana.com] – Minister of Governance, with responsibility for Natural Resources and the Environment, Mr. Raphael Trotman visited the Fugro Americas, a multi-purpose vessel designed to conduct high resolution geophysical surveys and sea floor mapping, which has been contracted by oil giant ExxonMobil, to commence works in the Stabroek Block, where the company found a significant amount of oil earlier this year.

According to the Ministry of the Presidency, the 193 foot-long vessel, which is permanently mobilised for rapid deployment to locations throughout North and South America to conduct geophysical surveys, arrived in Guyana on Monday and will depart the John Fernandes Wharf on December 16 for the Stabroek Block where it will be in operation until March 2016.

The Ministry noted that Minister Trotman was given a tour of the facilities and informed about the technology that is being used to conduct the surveys. Connie Landry Jr., Project Manager for Fugro Geoservices Incorporated, who was on board to facilitate the tour, said the company has been contracted by ExxonMobil to conduct works in the area where it has discovered oil so that it can plan its developmental agenda.

“We are here at Exxon’s request to do a geophysical and geo technical survey of their leased area in the Liza Block and so we are going to use geo physical equipment, mostly the AUV system to collect imagery, sub bottom data, so that Exxon can determine exactly what kind of structures they are going to build to develop that particular location. We are going to provide the information about the service so that they can determine what kind of structures and how they are going to anchor their structures for the development of that area,” he said.

Mr. Dave Tuls, ESSO's Venture Manager, briefs Minister of Governance, Mr. Raphael Trotman; while Mr Patrick Lee (first, left) and Newell Dennison, Acting Commissioner, Guyana Geology and Mines Commission look on.
Mr. Dave Tuls, ESSO’s Venture Manager, briefs Minister of Governance, Mr. Raphael Trotman; while Mr Patrick Lee (first, left) and Newell Dennison, Acting Commissioner, Guyana Geology and Mines Commission look on.
Meanwhile, Patrick Lee, Civil, Structural and Artic Geotechnical Engineer, Exxon Development Company, said the tour was organised to showcase the equipment, personnel and expertise that are being brought on board for the developmental campaign that the company was looking at.

“It is primary to further develop the potential offshore Liza,” Lee said, noting that this is a sign that ExxonMobil was serious about investing in Guyana.

“We would not be looking at these activities if we were not. The fact that we are putting so much resource into this shows our commitment to Guyana,” he said.

The oil and gas exploration began in Guyana on March 5, 2015, with drilling offshore in the Stabroek Block. Just two months later, on May 20, the company announced that its engagement in Guyana was proving successful, as its exploration drill ship, the Deepwater Champion, had found a deposit of a ‘significant’ evidence of oil in the Block, about 120 nautical miles offshore Guyana.

ExxonMobil pushes ahead with oil exploration

December 16, 2015 7:57 am Category: Business A+ / A-
Minister of Governance Mr. Raphael Trotman pays keen attention as the Captain of the Fugro Americas explains the vessel’s capabilities.
Minister of Governance Mr. Raphael Trotman pays keen attention as the Captain of the Fugro Americas explains the vessel’s capabilities.
[www.inewsguyana.com] – Minister of Governance, with responsibility for Natural Resources and the Environment, Mr. Raphael Trotman visited the Fugro Americas, a multi-purpose vessel designed to conduct high resolution geophysical surveys and sea floor mapping, which has been contracted by oil giant ExxonMobil, to commence works in the Stabroek Block, where the company found a significant amount of oil earlier this year.

According to the Ministry of the Presidency, the 193 foot-long vessel, which is permanently mobilised for rapid deployment to locations throughout North and South America to conduct geophysical surveys, arrived in Guyana on Monday and will depart the John Fernandes Wharf on December 16 for the Stabroek Block where it will be in operation until March 2016.

The Ministry noted that Minister Trotman was given a tour of the facilities and informed about the technology that is being used to conduct the surveys. Connie Landry Jr., Project Manager for Fugro Geoservices Incorporated, who was on board to facilitate the tour, said the company has been contracted by ExxonMobil to conduct works in the area where it has discovered oil so that it can plan its developmental agenda.

“We are here at Exxon’s request to do a geophysical and geo technical survey of their leased area in the Liza Block and so we are going to use geo physical equipment, mostly the AUV system to collect imagery, sub bottom data, so that Exxon can determine exactly what kind of structures they are going to build to develop that particular location. We are going to provide the information about the service so that they can determine what kind of structures and how they are going to anchor their structures for the development of that area,” he said.

Mr. Dave Tuls, ESSO's Venture Manager, briefs Minister of Governance, Mr. Raphael Trotman; while Mr Patrick Lee (first, left) and Newell Dennison, Acting Commissioner, Guyana Geology and Mines Commission look on.
Mr. Dave Tuls, ESSO’s Venture Manager, briefs Minister of Governance, Mr. Raphael Trotman; while Mr Patrick Lee (first, left) and Newell Dennison, Acting Commissioner, Guyana Geology and Mines Commission look on.
Meanwhile, Patrick Lee, Civil, Structural and Artic Geotechnical Engineer, Exxon Development Company, said the tour was organised to showcase the equipment, personnel and expertise that are being brought on board for the developmental campaign that the company was looking at.

“It is primary to further develop the potential offshore Liza,” Lee said, noting that this is a sign that ExxonMobil was serious about investing in Guyana.

“We would not be looking at these activities if we were not. The fact that we are putting so much resource into this shows our commitment to Guyana,” he said.

The oil and gas exploration began in Guyana on March 5, 2015, with drilling offshore in the Stabroek Block. Just two months later, on May 20, the company announced that its engagement in Guyana was proving successful, as its exploration drill ship, the Deepwater Champion, had found a deposit of a ‘significant’ evidence of oil in the Block, about 120 nautical miles offshore Guyana.

http://www.inewsguyana.com/exxonmobil-pushes-ahead-with-oil-exploration/

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Old info, but some good background
Info for new eyes:

Small cap investors should watch CGX Energy… Huge potential should they find a farm out partner
POSTED ON MARCH 18, 2014 BY TRAVIS MCPHERSON
CATEGORY CGX ENERGY, ENERGY, INTERVIEWS, OIL AND GAS, STORIES,
cgx-no_map

The $20 million market cap CGX Energy Inc. holds 3.3 million acres in one of the last frontier oil basins on the planet; the Guyana-Suriname offshore basin. CGX’s grounds are considered analogous to West Africa’s prolific oil fields, and could hold multiple billion barrels of oil. CGX is already ~64% owned by Pacific Rubiales, and will need to attract another major partner to held subsidize the heavy costs of drilling their targets. CEO Dewi Jones explains the company’s huge potential and go forward plans in an exclusive interview.

Recently I sat down with Michael Galego, Deputy General Counsel and Secretary of Pacific Rubiales (PRE:TSX), the largest non-state owned oil company operating in Colombia (produces ~126,000boe/d).

Although interested in Pacific Rubiales, the reason for our meeting was to get an introduction to a much earlier-stage company that he and other key Pacific Rubiales members are involved with; CGX Energy (OYL:TSXV).

Mr. Dewi Jones, CEO of CGX Energy (Photo: CGX Energy)
Mr. Dewi Jones, CEO of CGX Energy (Photo: CGX Energy)

After hearing the story from Mr. Galego in Pacific Rubiales’ impressive downtown Toronto offices, he arranged for me to have a call with the Houston based CEO of CGX, Mr. Dewi Jones.

CGX holds one of the largest packages of petroleum blocks in the Guyana-Suriname basin. They are targeting multi-hundred million barrel shallow water targets which, if successful, could mean an exponential increase to their share price from current levels.

“Thank you for your interest in CGX, we are very excited,” Mr. Jones told me with a thick Colombian accent.

The Guyana-Suriname Basin:

The Guyana-Suriname basin is one of the last true frontier hydrocarbon basins in the world.

In 2000, the United States Geological Survey identified the Guyana-Suriname basin as having the second highest resource potential in the unexplored basins of the world with estimated mean recoverable oil reserves of over 13.6 billion barrels and 32 trillion cubic feet of gas reserves.

The basin is estimated to hold more than 117 fields with > 1 million barrels of recoverable oil each, 24 fields with elephant potential of > 100 million barrels of recoverable oil each and 6 with > 500 million barrels of recoverable oil each.

Mr. Jones is a +25 year veteran of the international E&P sector where he was most recently the Manager of Exploration for the Caribbean region with Repsol YPF S.A. (the Spanish integrated oil and gas major).

“We are very enthusiastic about this basin,” he tells me.

(Image: CGX Energy)
The rock that hosts huge oil endowments offshore West Africa, is the same that is found in the Guyana-Suriname basin (Image: CGX Energy)

A geologist by training, Mr. Jones explains that the first thing he looks for when exploring for hydrocarbons is a world-class source rock. He claims the source rocks found in the Guyana-Suriname basin are analogous to those in West Africa as well as Colombia, Venezuela and Trinidad and Tobago (where he spent time with Repsol).

The source rock here is the Cenomanian-Turonian Canje Formation. The majority of the resource potential here is found in the Lower Tertiary to Cretaceous turbidite fans (the best play-type among offshore targets in the Atlantic basin including those found in West Africa and Brazil).

The best analogy here is the Gulf of Guinea in West Africa which stretches from Guinea to Angola and includes major oil producing nations such as: Nigeria, Ghana, Cote d’Ivoire, DRC, Congo, Gabon and Cameroon. According to the US Energy Information Administration, Nigeria alone produces over 2.5 million barrels of oil per year (2011) and holds 37 billion barrels of crude oil in proven reserves.

Venezuela, bordering Guyana to the northeast, is home to an estimated 211 billion barrels of oil in proven reserves (US Energy Information Administration).

The source rock, Mr. Jones speaks to, clearly holds world-class oil and gas potential.

CGX Energy:

CGX Energy has a market capitalization of less than $20 million and an enterprise value of ~$8 million ($10 million in cash as of Dec 31/13).

The company underwent a restructuring in July last year and consolidated its shares 10-for-1.

“This really is the new CGX,” says Mr. Jones.

What intrigued me most about the company, was not only did it have some of the leading energy entrepreneurs in Latin America (namely Serafino Iacano, Ronald Pantin and Jose Francisco Arata – all founders of Pacific Rubiales), but also that this micro-cap company held one of the largest land packages with enormous prospective resource potential in the Guyana-Suriname basin.

The play is big. They are targeting shallow water offshore prospects with large commercial potential. These are elephants, most in excess of 100 million barrels of recoverable oil. Well costs can be +$100 million so obtaining a partner (or partners) is critical. Being the first movers in the basin, they say they were able to obtain the best blocks, however, they still need to find a partner to make it work.

CGX is roughly 64% owned by Pacific Rubiales on a non-diluted basis. It was evident by Mr. Jones’ tone that he is thrilled to have Pacific Rubiales as a partner.

“Pacific Rubiales has one of the smartest technical and financial teams in the space and we have the benefit of using their expertise in the sector as we need,” he explained.

2012 Offshore Drilling:

In 2012, CGX drilled two offshore wells; Jaguar-1 and Eagle-1.

Jaguar-1 was located on the Georgetown Petroleum Prospecting License with CGX holding a 25%-interest with partners, Repsol (15%-operator), YPF (30%) and Tullow (30%).

There are 6-8 wells planned for Guyana-Suriname basin over next 3 years (Photo: Tim Rue/Bloomberg)
There are 6-8 wells planned for Guyana-Suriname basin over next 3 years (Photo: Tim Rue/Bloomberg)

The well was targeting a Turonian zone at a depth of 6,500m. Later in the year, the well reached a depth of 4,876m but had to be plugged and abandoned for safety reasons.

The well, although unsuccessful at reaching its target depth, did encounter light oil shows in two Late Cretaceous turbidite sands.

The shares were cut in half on the results of Eagle-1 and again when Jaguar-1 had to be plugged.

After seeing the potential of the initial target, and bearing the frustration of having to abandon such a promising well, CGX made it clear it intended to continue with the Georgetown block. Repsol, as operator, was responsible for maintaining the license. They let the license lapse without informing CGX and then proceeded to re-acquire the license under 100% interest and subsequently farmed-out a 30% working interest to Tullow.

In late 2013, CGX initiated arbitration against Repsol and was able to obtain an injunction from the Commercial Court of Guyana restraining Repsol from closing an additional 30% farm-out agreement in the license.

When I asked Mr. Jones how the Georgetown block stands up against Corentyne, he responded: “I’m much more excited to drill into the Corentyne block as it appears to be a shallower target with a better geologic formation than the targets we went after in Jaguar-1. The risk-reward is significantly better here.”

The other well they drilled in 2012 was Eagle-1 which was drilled to a target depth of 4,200m and tested the Eocene and Maastrichtian/Campanian zones.

The well encountered oil shows and although wire-line logs were encouraging, they needed to do additional open hole logs to determine the nature of the fluids. After pressure testing and fluid sampling, the sandstone reservoirs proved to be water bearing.

Eagle-1 cost ~$71 million to complete.

The Blocks:

CGX is in the basin with majors and super-majors including Shell, Tullow and Inpex (Image: CGX Energy)
CGX is in the basin with majors and super-majors including Shell, Tullow and Inpex (Image: CGX Energy)

CGX holds three majors blocks, two offshore and one onshore: the Corentyne, Demerara and Berbice (onshore). The Corentyne block is their current focus and covers over 1.5 million acres in the shallow waters offshore Guyana.

The Corentyne block is surrounded by majors and super-majors including Esso, Shell, Inpex, Repsol and Tullow.

A 2012 resource estimate completed by Gustavson estimate prospective (P50) resources at 2.5 billion barrels over two targets (the Eagle Upper Turonian – 1.2 billion barrels and the Lower Turonian – 1.3 billion barrels).

This massive potential was reconfirmed in a 2013 report completed by DeGolyer and MacNaughton which showed prospective (P50) resources to be 779 million barrels of oil, 743 million barrels of condensate, 6,943 billion cubic feet of sales gas and 696 billion cubic feet of solutions gas (~2.79 billion barrels of oil equivalent).

The first well planned for the Corentyne block will target the Eagle Deep and aims to test all of the geologic zones present there.

The Eagle Deep prospect they are targeting could hold a total of over 800 million barrels of oil according to the DeGolyer and MacNaughton report.

Applying a conservative $5 value to those potential barrels, that is potentially worth $4 billion (gross).

Assume whatever ownership they would maintain in a joint venture you want and if successful, the value gap from current levels is still exponential.

CGX are committed to complete 2 wells on the Corentyne block by November 2016.

There are 6-8 wells planned by the companies exploring in the basin between now and 2016. If anyone can make a discovery in the Guyana-Suriname basin, it would be game changing for everyone active there, but especially CGX given their market cap (leverage to the play).

“These frontier basins are always a statistics game. With a geological setting like we see here, it is just a matter of how many wells it takes for someone to make a discovery,” Mr. Jones tells me, explaining from his years of experience in other frontier oil basins around the world.

The fact there is already an onshore heavy oil discovery makes the theory even more compelling. In other basins similar to this, an onshore heavy oilfield is typically present, Mr. Jones informs me.

The Tambaredjo and Calcutta fields, operated by Staatsolie, onshore Suriname hold oil (in place) resources of close to 1 billion barrels of oil and produces ~16,000bbls/d.

The Demerara licence comprises roughly 1 million acres, also offshore Guyana. They have an old seismic data set which has led them to identify two potential targets; a toe thrust as well as an amplitude target.

To refine these they are planning to shoot a new 3D seismic survey to bring these to the drill-ready stage. The Demerara license was issued in February 2013 and is valid for up to ten years (renewable after four). During the first four years, they are committed to shooting 1,000 square kilometers of 3D seismic and one exploration well.

Catalysts:

pacific rubiales

Management, along with assistance from Pacific Rubiales, is currently re-interpreting the seismic data on the block.

“Due to our large acreage, we are getting a lot of interest from the players in the basin as well as the ones trying to get in,” Mr. Jones tells me.

As part of the most recent licence commitments, they have to spud their first well on the Corentyne block by Q2/2015.

Because these are complex offshore operations, the wells take time to define, refine and construct.

They have committed to a total of 3 wells and some seismic work, with an estimated total gross capital spend of ~$420 million (of which CGX will only be responsible for a fraction of, assuming a partner earns in).

The total gross cost of the first Corentyne well will depend on which prospect is chosen for drilling and is estimated to be between $80 and $135 million.

These are big, expensive, high impact targets and that is why successfully negotiating joint venture agreements with the majors or large independents is crucial.

They won’t have to drill the Demerara block until the second half of 2016 but will shoot 3D seismic on the block in Q3/2014. They continue to seek joint ventures for this offshore block as well.

Closing:

Due to the nature of these high impact offshore plays, it is sometimes difficult to determine a value.

Often these are binary in nature, meaning they either have success or they don’t.

However, in CGX’s case there are a few caveats:

1.) They are backed, financially and technically, by Pacific Rubiales which is one the most successful oil explorers in Latin America (over 80% success rate).

2.) They hold some of the largest and most prospective blocks in the Guyana-Suriname basin, which is seeing a revival in exploration and development work.

3.) They have already drilled wells targeting similar depths and formations and as a result they have learned from them.

OYL Chart
OYL data by YCharts

Remember, they are targeting elephants here. These are between 100 and 800 million barrel targets. Do they cost a lot? Yes. But, unlike many targets, these will actually move the needle for major international oil companies, especially given this basin has still yet to see a major oil discovery. Given CGX’s current cash position (~10 million) they will have to finance their part of a joint venture.

The value of these types of discoveries, if validated through successfully and economically flowing wells, is in the billions of dollars.

The most significant near-term catalyst that should move the stock will be to have a joint venture partner (or partners) commit for a substantial portion of the exploration expenditures on the Corentyne or Demerara blocks. This will be a huge validation for their play and will mean many millions of dollars of work will be committed by someone else (and someone else’s bank account).

Add to that the fact that if any of the 6-8 wells planned in the basin make any type of significant oil/gas discovery, then there will surely be a surge in activity which will increase CGX’s share price; many multiples from current levels.

Disclaimer: The author is not a registered investment advisor and this is not investment advice. This is an extremely high-risk small-cap stock. All facts to be verified by the reader. Always do your own due diligence.

Offshore oil rig photo: Wikimedia Commons

http://ceo.ca/2014/03/18/a-closer-look-at-cgx-energy-ceo-dewi-jones-interview/

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"Tullow Oil set to get exploration licence in Guyana"

http://www.cnbc.com/2015/12/05/the-associated-press-tullow-oil-set-to-get-exploration-license-in-guyana.html

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From I-Hub news dated June 26, 2015:

Guyana Assures Exxon Venezuela Dispute Won't Slow Oil Exploration

Source: Dow Jones News
By Kejal Vyas
When it comes to Exxon Mobil Corp.'s recent oil discovery off the coast of Guyana, one that Venezuela claims as its own, Guyanese President David Granger has a clear message for the U.S. company: Full speed ahead.

Mr. Granger, who took office days before Exxon announced the significant find last month, said that he met with officials from the company--which was contracted by Guyana--and offered assurances that exploration work won't be interrupted, despite Venezuela's recent revival of a century-old claim on two-thirds of Guyana's territory.

Guyana, a former British colony of 750,000 people and South America's only English-speaking nation, is counting on diplomacy and the help of regional allies to resolve the matter.

A Paris arbitration tribunal in 1899 had set the internationally recognized boundaries, but Venezuela sixty years later rejected the findings saying it was cheated.

"We're not going to send the navy out there and battle it out," Mr. Granger said in an interview Friday, ahead of efforts to garner international support for the country. His campaign is set to begin at an annual Caribbean summit in Barbados next week and will continue at the United Nations General Assembly in September, he said.

"We're a small nation, we have no interest in any sort of military confrontation," said Mr. Granger, a retired army brigadier.

Venezuela, which has periodically laid claim on the land, briefly detained a Malaysian-owned seafloor survey ship hired by Guyana and the U.S. oil company Anadarko along with its crew in 2013.

Tensions between the nations have risen since Exxon's discovery, with Venezuela President Nicolás Maduro issuing a May 26 decree reasserting his country's sovereignty over the Louisiana-sized Essequibo region's land and its Atlantic waters, where Exxon has the exploration concession from Guyana.

Mr. Maduro, who on his weekly television program Tuesday accused Exxon of "provocation," was expected to address congress on ways to confront Guyana this week, but his speech was postponed twice and is now scheduled for this coming Tuesday.

"I ask for the help of the whole country, all social and political sectors, civil and military, to defend our territory, defend our fatherland," Mr. Maduro said as he faces pressure from allies as well as political opponents to take action against Guyana.

The controversy comes at a time when Venezuela's economy is crumbling, prompting some analysts to believe he is looking to divert attention from internal problems outward.

Polls indicate that Mr. Maduro's ruling United Socialist Party is likely to suffer a major setback in National Assembly elections set for Dec. 6, with Venezuelans punishing the country's leadership for an economic crisis marked by triple-digit inflation and chronic shortages of basic goods such as milk and detergent.

"It's primarily a distraction," said Risa Grais-Targow, an analyst at the risk consultancy Eurasia Group. She added that Mr. Maduro could be using the issue as leverage to pressure the new government in Guyana.

"I hope he will be conciliatory," Mr. Granger said in anticipation of his counterpart's address. "This issue was settled 116 years ago."

Mr. Granger said he personally told Exxon officials in Guyana in a meeting in recent days that they have nothing to worry about. "The difference is that Exxon is U.S. property and any attempt to physically interfere with U.S. property might be faced with a different response," Mr. Granger said.

Exxon declined to comment.

Exxon has had strained relations with Caracas after the country nationalized the company's heavy-oil projects in 2007, for which Venezuela has to pay the U.S. oil major $1.6 billion, an arbitration court ruled earlier this year. Exxon and Venezuela's state energy company ended their decadeslong relationship last week after selling their joint ownership of a refinery.

Guyana, which the World Bank ranks as the Western Hemisphere's third-poorest country in terms of per capita gross national product, is trying to boost its coffers and find a share of oil off of northeastern South America after other neighbors, such as Suriname and Brazil, in recent years made significant discoveries.

Mr. Granger said oil would be a boon for the country, which relies on limited lumber, gold and diamond mining and is grappling with high levels of youth unemployment. A World Health Organization study in 2012 found Guyana to have the highest suicide rate in the world, four times the global average.

Mr. Granger, who is Afro-Guyanese, led a multiethnic coalition of political parties to victory after 23 years of a government controlled by Guyanese of East Indian descent. He says his administration can offer stability and is looking for new investors.

The prospect for oil has also attracted Spanish energy company Repsol SA, which according to Guyana's government requested a six-month extension this week on its offshore exploration license.

Venezuela's objections have grown louder with Exxon's presence, Mr. Granger said. "I can't think of any other reason for the tensions. There was no other precedent except for the presence of Exxon."

Despite the territory controversy, Guyana and Venezuela have strengthened economic ties since signing an oil-for-rice deal in 2009. Thanks to the agreement, Guyana has become the largest supplier of the grain to 29 million Venezuelans, who take in nearly half of Guyana's rice exports in exchange for refined oil.

That deal is set to expire later this year and Mr. Granger says his foreign minister is scheduled to be in Venezuela on Monday with the hopes of renewing the supply contract and securing a crucial market for Guyanese farmers.

"I don't think there will be any danger that the border matter will jeopardize the agreement," Mr. Granger said.

Write to Kejal Vyas at [e-mail]

Access Investor Kit for Exxon Mobil Corporation

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US30231G1022

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Definitely worth the D&D on this one. Has Super Nova potential! IMO

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From CGX Energy website:
Demerara (100%)
The Demerara License (formerly the Annex License) comprises approximately 1.0 million acres (3,975 square kilometres) offshore Guyana.

CGX has 3,400 sq km of vintage seismic data on the Demerara which was acquired prior to 1998. After processing about 250 km, CGX has identified two leads—a toe thrust on line 31 and an amplitude lead on the intersection of line 4 and line 25. New 3D seismic will be required to advance these targets to drillable stage.

[Rk3]

Corentyne (100%)
The original Corentyne License issued in 1998 comprised 2.8 million acres, 2.5 million acres of which were offshore and comprised 1.5 million acres on the Corentyne license and 1.0 million acres on the Corentyne Annex, and .3 million acres onshore. Effective November 27, 2012, CGX transitioned to a new Corentyne petroleum agreement and petroleum prospecting license, renewable after four years for up to ten years. The new Corentyne License applies to the offshore portion of the original Corentyne license and comprises 1.5 million acres (6,212 square kilometres).
In January 2012, CGX completed an 1,160 sq km 3D seismic program to better image the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian and obtained data on two Albian prospects, Crabwood and Kabukalli. The 3D seismic program was performed by Petroleum Geo-Services (PGS) utilizing their dual-sensor GeoStreamer® technology and was completed under time and under budget.

On November 29, 2011, CGX contracted the Ocean Saratoga semi-submersible drill rig to drill the Eagle-1 well which was planned to a total depth of 4,200 metres to test the Eocene and Maastrichtian geologic zones. The Eagle-1 well commenced drilling on February 13, 2012 and completed drilling on April 25, 2012. During drilling, the Eagle-1 well encountered oil and gas shows through the objective Eocene and Maastrichtian geologic zones indicating an active petroleum system where generated hydrocarbons have migrated through the pre-Miocene section drilled by the Eagle-1 well. Although wire-line logs provided encouraging results with high resistivities correlating with sandstones that had encountered oil shows, additional open hole logs were necessary to determine the nature of the fluids in those zones. The Company performed CMR (combined magnetic resonance) and MDT (modular formation dynamics) tests on the Eagle-1 well and both logs identified the presence of good quality sandstone reservoirs that unfortunately proved to be water bearing.
CGX has obtained three independent resource estimate for prospects and leads on the Corentyne License. The independent resource estimate by Gustavson Associates dated May 17, 2012 provides for a P50 resource estimate of 2.5 billion barrels for two targets – Eagle Upper Turonian (1.2 billion barrels) and Lower Turonian (1.3 billion barrels). The independent resource estimate by DeGolyer and MacNaughton dated June 15, 2011 provided for a P50 resource estimate of 0.3 billion barrels for two Albian targets (Kabukalli and Crabwood). The 2012 Gustavson Report was prepared utilizing the 3D seismic data acquired by Fugro-GeoTeam in 2008 and took into consideration Eagle-1 well drilling results and the 2011 DeGolyer and MacNaughton Report was prepared utilizing the 2D seismic data acquired by Western Geophysical in 1999.

Subsequent to interpretation of the PGS 3D seismic data that was acquired in early 2012 which yielded five new prospects, CGX commissioned DeGolyer and MacNaughton to prepare an updated report. The 2013 DeGolyer and MacNaughton Report dated March 19, 2013 provides a total best estimate (P50) of Prospective Resources for six oil and gas prospects of 779 million barrels of oil, 743 million barrels of condensate, 6,943 billion cubic feet of sales gas plus 696 billion cubic feet of solution gas (see table below). If the estimate of gas resources were converted to oil on a 6:1 btu equivalence, and if the estimate of solution gas resources associated with the oil prospects were converted to sales gas assuming a 5% shrinkage, the arithmetic sum would be 2,789 million barrels of oil equivalent.

DeGolyer and MacNaughton
Gross Prospective Resource Estimate
Units Low Best High Mean
Note: bcf – billion cubic feet; 106bbl – million barrels; Arithmetic Summation may not appear to add due to rounding
Oil Prospects
Eagle Deep Campanian 106bbl 29 83 225 109
Kabukalli Campanian + Albian 106bbl 207 465 1,085 574
Simri Albian 106bbl 5 12 29 15
Crabwood Albian 106bbl 4 12 33 16
Buteo Maastrichtian 106bbl 28 82 186 99
Arithmetic Summation Oil 106bbl 274 654 1,559 813
Statistical Aggregation
Oil 106bbl 535 779 1,134 813
Solution Gas bcf 508 696 954 717
Eagle Deep Turonian Gas
Sales Gas bcf 3,578 6,943 12,306 7,569
Condensate 106bbl 577 743 958 758

[Rk3]

http://cgxenergy.ca/cmsAssets/CustomUserControls/map-interactive/index.html

[Rk3]

http://cgxenergy.ca/cmsAssets/images/exploration.jpg

[Rk3]

From the CGX Energy website:
Regional News
May 20, 2015
Exxon Mobil makes 'significant' offshore oil find near Guyana
Dallas Business Journal

Irving-based oil and gas giant Exxon Mobil Corp. (NYSE: XOM) said Wednesday that it has made a significant oil discovery off the coast of Guyana.

The find is in the Stabroek Block about 120 miles offshore from the country of about 800,000 on the Caribbean coast of South America.

Exxon said that the well was drilled by an affiliate, Esso Exploration and Production Guyana Ltd. and that it encountered more than 295 feet of high-quality oil-bearing sandstone reservoirs.

The well was drilled to 17,825 feet in 5,719 feet of water, Exxon said.

“I am encouraged by the results of the first well on the Stabroek Block,” Stephen M. Greenlee, president of ExxonMobil Exploration Co. said in a news release. “Over the coming months we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block.”

[Rk3]

2 posts a year. If Esso (Exxon) hydro carbon results come back commercial, that will soon change!! Got my fingers crossed.

[protagonist12]

CGXEF some big hungry whales just noticed this connection?

"Two weeks ago, the company issued a statement saying there had been various media reports with respect to a possible discovery by Exxon Mobil Corp. (NYSE: XOM, Stock Forum) in the Sabroek Block, offshore Guyana. The Stabroek Block is immediately adjacent to the company's Corentyne Block."

[stocktrademan]

$CGXEF recent news/filings

bullish
should be interesting tomorrow

## source: finance.yahoo.com

no recent news found
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$CGXEF charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$CGXEF company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/CGXEF/company-info
Ticker: $CGXEF
OTC Market Place: OTC Pink Current
CIK code: 0001499930
Company name: CGX Energy Inc.
Company website: http://www.cgxenergy.ca
Incorporated In: Canada

Business Description: CGX is a Canadian oil and gas exploration company that holds four licenses in the Guyana Suriname basin, a frontier basin in South America with a proven hydrocarbon system and highly prospective deep water plays that can be drilled in shallow water. The United States Geological Survey (USGS) has identified the Guyana Suriname basin as having the second highest resource potential among unexplored oil basins in the world and estimates mean recoverable oil reserves over 13.6 billion bbls and gas reserves of 39 trillion cubic ft. The Company is pursuing the Equatorial Atlantic Margin Play, analogous to West Africa and Brazil. CGXÂ?s is surrounded by major oil companies including Anadarko, Apache, Exxon, Inpex, Kosmos, Murphy, Repsol, Shell, Statoil, Total, Tullow and YPF. With more than 10 prospects and leads and independent P50 resource estimates of 3 billion barrels of potential resources, CGX is positioned for Guyana Atlantic Basin success.Less >>

$CGXEF share structure

## source: otcmarkets.com

Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

$CGXEF extra dd links

Company name: CGX Energy Inc.
Company website: http://www.cgxenergy.ca

## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=CGXEF+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=CGXEF+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=CGXEF+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/CGXEF/news - http://finance.yahoo.com/q/h?s=CGXEF+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/CGXEF/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/CGXEF/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=CGXEF+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/CGXEF
DTCC (dtcc.com): http://search2.dtcc.com/?q=CGX+Energy+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=CGX+Energy+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=CGX+Energy+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.cgxenergy.ca
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.cgxenergy.ca#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.cgxenergy.ca

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/CGXEF
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001499930&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/CGXEF/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/CGXEF/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=CGXEF&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=CGXEF
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/CGXEF/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=CGXEF+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=CGXEF+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=CGXEF
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=CGXEF
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=CGXEF+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/CGXEF/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=CGXEF+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/CGXEF.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=CGXEF
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/CGXEF/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/CGXEF/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/CGXEF
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/CGXEF
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/CGXEF:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=CGXEF
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=CGXEF



$CGXEF DD Notes ~ http://www.ddnotesmaker.com/CGXEF

[stocktrader1]

nice to see .30's again, even though it was very short lived!

[stocktrademan]

CGX Energy Inc. [$CGXEF] due diligence

bullish

$CGXEF

DD Notes ~ http://www.ddnotesmaker.com/CGXEF

Exploring in World Class Basin with Proven Hydrocarbon System
USGS Estimates Guyana Suriname Basin has 13.6 billion barrels of oil and 32 Tcf of gas USGS Estimates Guyana Suriname Basin has 13.6 billion barrels of oil and 32 Tcf of gas

CGX is a Canadian oil and gas exploration company that holds three licenses in the Guyana-Suriname Basin, a frontier Basin in South America with a proven hydrocarbon system and highly prospective deep water plays that can be drilled in shallow water. In 2000, the United States Geological Survey (USGS) identified the Guyana-Suriname Basin as having the second highest resource potential among unexplored oil basins in the world and currently estimates mean recoverable oil reserves of over 13.6 billion bbls and gas reserves of 32 trillion cubic ft. The Company is pursuing the Equatorial Atlantic Margin Play, analogous to West Africa and Brazil. CGX is surrounded by major oil companies including Anadarko, Apache, Exxon, Inpex, Kosmos, Murphy, Repsol, Shell, Statoil, Total, and Tullow. With numerous prospects and leads and an independent P50 resource estimate of 2.9 billion boe of potential resources, CGX is positioned for success in this frontier Basin.


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##### chart ~ source: eoddata.com



##### company info ~ source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/CGXEF/company-info
Ticker: $CGXEF
OTC Market Place: OTC Pink Current
CIK code: 0001499930
Company name: CGX Energy Inc.
Company website: http://www.cgxenergy.ca
Incorporated In: Canada

##### extra dd links

Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001499930&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/CGXEF/filings
Latest financials: http://www.otcmarkets.com/stock/CGXEF/financials
Latest news: http://www.otcmarkets.com/stock/CGXEF/news - http://finance.yahoo.com/q/h?s=CGXEF+Headlines

Major holdings: http://data.cnbc.com/quotes/CGXEF/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=CGXEF+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/CGXEF.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=CGXEF

RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=CGXEF&search=search

DTCC: http://search2.dtcc.com/?q=CGX+Energy+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=CGX+Energy+Inc.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=CGX+Energy+Inc.&x=0&y=0
WHOIS: http://whois.domaintools.com/http://www.cgxenergy.ca
Alexa: http://www.alexa.com/siteinfo/http://www.cgxenergy.ca#
Corporate website internet archive: http://web.archive.org/web/*/http://www.cgxenergy.ca

Short Sales: http://www.otcmarkets.com/stock/CGXEF/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/CGXEF/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/CGXEF/research
Historical Prices: http://finance.yahoo.com/q/hp?s=CGXEF+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=CGXEF+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=CGXEF+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=CGXEF+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=CGXEF+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=CGXEF+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=CGXEF
Balance Sheet: http://finance.yahoo.com/q/bs?s=CGXEF
Cash Flow: http://finance.yahoo.com/q/cf?s=CGXEF+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/CGXEF
Bloomberg: http://www.bloomberg.com/quote/CGXEF:US
Morningstar: http://quotes.morningstar.com/stock/s?t=CGXEF
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=CGXEF
Barchart: http://www.barchart.com/quotes/stocks/CGXEF
OTC Short Report: http://otcshortreport.com/index.php?index=CGXEF
Investopedia: http://www.investopedia.com/markets/stocks/CGXEF/?wa=0

http://www.pennystocktweets.com/stocks/profile/CGXEF

##### last known share structure ~ source: otcmarkets.com

Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

##### business description ~ source: otcmarkets.com

CGX is a Canadian oil and gas exploration company that holds four licenses in the Guyana Suriname basin, a frontier basin in South America with a proven hydrocarbon system and highly prospective deep water plays that can be drilled in shallow water. The United States Geological Survey (USGS) has identified the Guyana Suriname basin as having the second highest resource potential among unexplored oil basins in the world and estimates mean recoverable oil reserves over 13.6 billion bbls and gas reserves of 39 trillion cubic ft. The Company is pursuing the Equatorial Atlantic Margin Play, analogous to West Africa and Brazil. CGX?s is surrounded by major oil companies including Anadarko, Apache, Exxon, Inpex, Kosmos, Murphy, Repsol, Shell, Statoil, Total, Tullow and YPF. With more than 10 prospects and leads and independent P50 resource estimates of 3 billion barrels of potential resources, CGX is positioned for Guyana Atlantic Basin success.Less >>

DD Notes ~ http://www.ddnotesmaker.com/CGXEF
fi2

[Renee]

CGXEF one for 10 reverse split:

http://www.otcbb.com/asp/dailylist_detail.asp?d=07/10/2013&mkt_ctg=NON-OTCBB

[korpin]

they hit water....