CEGX's Highlight Reel.....
1. CEGX has no money. They are essentially insolvent.
2. Every CEGX lease is tied up in a lawsuit.
3. CEGX has unloaded leases into someone else name (see Texas Railroad Commission Website).
4. The landowner of the Bradford has a legal judgement that nullifies CEGX's Bradford leases. He has taken back the Bradford land due to non production of oil. (case #2017-015 Shackelford County).
5. As it stands right now, CEGX cannot sell oil in the state of Texas. Hence the reason oil production has been reported to the Texas Railroad Commission since Oct 2016.
Wake up people!
Load of debt, no capital, truckload of lawsuits, losing leases to land owners due to non production, no running leases, cannot sell oil in Texas.
Unless Exxon Mobile has stroked a 20 million dollar check to invest in CEGX forget about it!
