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Guyana To Pump 1.2 Million Barrels Of Oil Per Day By 2027

Guyana is experiencing a massive offshore oil boom, with ExxonMobil making over 30 high-grade discoveries in the renowned Stabroek Block ....

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CGX Energy reports US$6.8 in losses for first half of 2022

CGX Energy reports US$6.8 in losses for first half of 2022
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Frontera and CGX Announce $19 Million Loan

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“These are exciting times for CGX, the Joint Venture and our stakeholders as we get closer to spudding Kawa-1,” said Professor Suresh Narine, Executive Co-Chairman of CGX. “We have exciting exploration plans for the Kawa-1 and Makarapan-1 wells on the Corentyne and Demerara Blocks and, as importantly, we are developing the infrastructure necessary to support and enhance broader energy and trade industry activity through the Berbice Deepwater Port Project. We look forward to executing on our programs and creating value and opportunity for our stakeholders.”
The Loan to CGX will be available for drawdown in tranches on a non-revolving basis until the earlier of October 31, 2021 or the date on which CGX (or its subsidiaries) enters into a binding transaction that provides funds to repay the amounts outstanding under the Loan. The Loan, together with all interest accrued, shall be due and payable on June 30, 2022, or such later date as determined by Fr ....

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Frontera and CGX Announce $19 Million Loan Agreement

Frontera and CGX Announce $19 Million Loan Agreement
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KAWA-1 REMAINS ON-TRACK TO SPUD IN 2H21
TORONTO, April 16, 2021 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) (
Frontera ) and CGX Energy Inc. (TSXV: OYL) (
CGX ), joint venture partners (the
Joint Venture ) in Petroleum Prospecting Licenses for the Corentyne and Demerara blocks offshore Guyana, announced today that they have entered into a term sheet for a $19 million loan (the
Loan ) that will enable CGX to continue to finance its share of costs related to the Corentyne, Demerara and Berbice blocks, the Berbice Deepwater Port, and other budgeted costs as agreed to by Frontera. ....

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Guyana: Frontera and CGX announce $19 million loan agreement

Guyana: Frontera and CGX announce $19 million loan agreement
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