CGX Energy ( (TSE:OYL) ) just unveiled an update.
CGX Energy Inc., in partnership with Frontera Energy Corporation, has responded to the Government of Guyana regarding the status of their Petroleum Prospecting License for the Corentyne block. The joint venture asserts that the license and their agreement with the government remain valid despite the government’s contradictory stance and purported termination. They are exploring legal options to assert their rights and aim to resolve the matter swiftly to continue their investments and efforts in the region.
More about CGX Energy
CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana.
YTD Price Performance: 11.54%
Average Trading Volume: 56,396
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$49.09M
Learn more about OYL stock on TipRanks’ Stock Analysis page.