CGX Energy Inc. Stock Analysis OYL.V

CGX Energy, Inc. engages in the acquisition and exploration of oil and natural gas properties. The company is headquartered in Toronto, Ontario. The firm is focused on the process of exploring and evaluating petroleum and natural gas properties in the Guyana Suriname basin in South America and construction of a deepwater port on the Berbice river in Guyana. The firm through one of its subsidiaries holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana, and is involved through one of its subsidiaries in the construction and development of the Berbice deep water port (BDWP). The Port is located adjacent to Crab Island on the eastern bank of the Berbice River, approximately 4.8 kilo meter(km) from the Atlantic Ocean. The firm is the operator of the Corentyne block and holds 27.48% working interest. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited, Grand Canal Industrial Estates Inc., and CGX Energy Management Corp.