The latest update is out from CGX Energy ( (TSE:OYL) ).
CGX Energy and Frontera Energy announced that their joint venture received a notice from the Government of Guyana terminating their Petroleum Agreement and Prospecting License for the Corentyne block offshore Guyana. The joint venture disputes this termination, maintaining that their interests and license remain valid, and they are seeking an amicable resolution with the government. If necessary, they are prepared to assert their legal rights to protect their investments and continue their efforts to generate value from the Corentyne block.
More about CGX Energy
CGX Energy Inc. is a Canadian-based oil and gas exploration company focused on exploring oil in the Guyana-Suriname Basin and developing a deep-water port in Berbice, Guyana. Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, with a diversified portfolio of assets in Colombia, Ecuador, and Guyana.
YTD Price Performance: 7.69%
Average Trading Volume: 51,736
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$42.32M
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