Welcome to our dedicated page for Cgx Energy news (Ticker: CGXEF), a resource for investors and traders seeking the latest updates and insights on Cgx Energy stock.
CGX Energy Inc. (CGXEF) provides focused oil exploration and energy infrastructure development in the Guyana-Suriname Basin. This page serves as the definitive source for official company announcements and third-party analysis of its offshore drilling activities, port development projects, and strategic partnerships.
Key updates include: drilling result disclosures, joint venture developments with industry partners like Frontera Energy, Berbice Deep Water Port progress, and regulatory compliance milestones. Investors gain timely insights into operational decisions shaping this Canadian energy company's growth trajectory.
All content undergoes strict verification to ensure accuracy and relevance. Bookmark this page for streamlined access to CGX Energy's evolving position in offshore energy exploration and supporting infrastructure development.
CGX Energy has released its unaudited Q3 2024 Financial Statements. At the August 30 AGM, five directors were re-elected with 97.8% average approval. Director Mark Zoback resigned effective October 1, 2024. The Joint Venture with Frontera Energy Guyana Corp continues to evaluate the Corentyne block development, where CGX holds 27.48% interest (pending reduction to 23% subject to government approval). Progress on the Berbice Deep Water Port includes completion of security fencing, cameras, trestle extension, and pile driving, with the Administration Building completion expected in November 2024.
CGX Energy Inc. (TSXV: OYL) has released its unaudited Consolidated Financial Statements for the second quarter of 2024, along with its Management, Discussion and Analysis - Quarterly Highlights. These documents are available on the company's website and SEDAR. Key updates include:
1. The Joint Venture (CGX and Frontera Energy Guyana Corp.) is in ongoing discussions with the Government of Guyana regarding the Corentyne block.
2. Strategic options for the Corentyne block are being explored with support from Houlihan Lokey.
3. Progress on the Berbice Deep Water Port (BDWP) includes completed security measures and ongoing construction of a trestle extension and pile driving, expected to be finished by the end of August.
On June 26, 2024, CGX Energy and Frontera Energy, joint venture partners, announced the submission of a Notice of Potential Commercial Interest for the Wei-1 well in the Corentyne block offshore Guyana. This action preserves their interests in the Petroleum Prospecting License. The Wei-1 well, drilled in 2023, fulfilled obligations under the Phase Two of the Second Renewal Period of the original 10-year License and appraised the Kawa-1 Programme. The Joint Venture is in ongoing discussions with the Government of Guyana regarding future activities in the Corentyne block. Supported by Houlihan Lokey, they are exploring strategic options to maximize the block's potential.
CGX Energy Inc. announced the release of its first quarter 2024 unaudited Consolidated Financial Statements, along with Management Discussion and Analysis. The Company updated on the 2023 Joint Operating Agreement Amendment and received cash consideration from Frontera Guyana. Additionally, Houlihan Lokey is supporting the pursuit of strategic options for the Corentyne block.
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