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Anyone know why the recent plunge in share price?tia
The basin is active and there have been hits not far away.
These prospects are company maker prospects with a very good chance of hitting.
This has been a long time in the making. It seems like forever.
o.k., How many shares are you in for?
over 100 per share I believe.
Both drills started this month, its in the press release under their website.
I am alive ventured a few thousand shares today this looks like it has potential
Do you know how far this could run if the Eagle prospect hits...WOW!
The Eagle prospect looks great to me.
Several very good capital raises.They are in a very good position.
Fantastic prospects in a great area.
I can't believe that nobody follows this.
Looks like there is a new IR Rep not too long ago. Any thoughts on Charlotte May?
Most recent presentation.....
http://cgxenergy.ca/documents/2Q2010MDAandFinancials.pdf
Most recent financials....
http://cgxenergy.ca/documents/2Q2010MDAandFinancials.pdf
Mike
Recent analyst report....
http://cgxenergy.ca/documents/CanaccordGenuity-Sep02-10.pdf
It shouldn't be much longer....
until this one starts to wake up!
Mike
lol
I know the feeling
Only way I can keep her on watch, I have so many watchlists now it's insane...
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http://cgxenergy.ca/
CGX Energy Inc. is a Canadian-based oil and gas company focused on exploring for oil in the Guyana-Suriname basin. Our Licences in Guyana cover 9.5 million gross acres, 7.2 million net.
In 1996, the founders of CGX began negotiations with the Government of Guyana to acquire an offshore concession to explore for oil. CGX and others view the Guyana-Suriname Basin as attractive for high-risk exploration for hydrocarbons. The United States Geological Survey (USGS) has identified the Guyana-Suriname Basin as having the second highest resource potential after Greenland among unexplored oil basins in the world. The USGS estimates mean recoverable oil reserves of 15.2 billion bbls and gas reserves of 42 trillion cubic ft.
In June 1998, CGX Resources Inc., a wholly owned subsidiary of CGX, was granted the 10-year Corentyne Licence by the Government of Guyana. The following May, we conducted a seismic program over the offshore portion of the concession, identifying 2 turbidite deep-sea fan targets, Eagle and Wishbone, and two stratigraphic-trap targets, Horseshoe West and East. In June 2000, while setting up to drill on Eagle, the rig CGX had contracted was forced off location by Surinamese gunboats, even though Guyana and Suriname are full signatories to the Law of the Sea Convention. Because CGX had already incurred the financial cost of mobilizing drilling equipment from Italy, we drilled our third-ranked target, Horseshoe West, a stratigraphic-trap play that was abandoned as a dry hole. After drilling Horseshoe, we relinquished 1 million acres with reduced exploration potential and added the 1-million acre Annex extension to the Corentyne Licence in January 2001. CGX Energy received an extension for its Corentyne License to June 2013.
Negotiations to resolve the maritime border dispute between the two countries were ongoing and on February 25, 2004, the Government of Guyana formally commenced binding dispute settlement procedures under the United National Convention on the Law of the Sea (UNCLOS). On September 20, 2007, the International Tribunal on the Law of the Sea (ITLOS) announced the award in favour of Guyana -- see Maritime Border Resolution
In addition, CGX has a 25% working interest in the offshore Georgetown Licence located between the original Corentyne Block and The Annex. This area is subject to a confidentiality agreement with the operator, Repsol-YPF.
In 2004, CGX finalized its purchase of the Pomeroon Block, a 2.8 million acre 100% interest block to the northwest.
Research into onshore activities in Suriname and advancements in technology piqued our interest in exploring the onshore portion of our Corentyne Licence. On September 10, 2003, ON Energy Inc. was incorporated in Guyana, as a wholly owned subsidiary of CGX Energy Inc. ON's principal asset is the Licence rights to the 800,000-acre onshore and near shore portion, the Berbice Block.
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