CGX Energy Inc

Published : August 28th, 2014

CGX Energy Announces Order from High Court in Guyana - Upholding Injunction against Repsol

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Oil | Suriname |

CGX Energy Announces Order from High Court in Guyana - Upholding Injunction against Repsol

(TSX-V | OYL)

TORONTO , Aug. 28, 2014 /CNW/ - CGX Energy Inc. (TSX-V - OYL) ("CGX Energy" or the "Company") announced today that CGX Resources Inc. ("CGX Resources"), a wholly-owned subsidiary of the Company, obtained an order from the High Court of the Supreme Court of Judicature in Guyana upholding the injunction from the Commercial Court of Guyana restraining Repsol Exploracion, S.A. ("Repsol") from proceeding with any proposed farm-out of the Kanuku petroleum prospecting license (the "Kanuku PPL") pending the hearing and determination of the arbitration proceedings commenced by CGX Resources against Repsol.

The Kanuku PPL covers substantially the same acreage as the Georgetown petroleum prospecting licence (the "Georgetown PPL") as illustrated in the map.

Professor Suresh Narine , Co-Chairman of the Company, commented:  "We view this decision as strong support for CGX Energy's rights in the Kanuku PPL and as the next step to regaining our participating interest in the acreage.  A final resolution of this matter is in the best interests of not only CGX Energy, but also tangibly demonstrates the application of the rule of law in the very exciting Guyana-Suriname basin.  CGX Energy has drilled the most exploration wells in Guyana and has extensive knowledge of the Guyana-Suriname basin. Furthermore, we worked diligently to meet all of the obligations with respect to our 25% participating interest in the Georgetown PPL and will continue to do so in respect of all petroleum prospecting licences in which we participate."

Dewi Jones , Chief Executive Officer of the Company, added: "Since 2012, CGX Energy has spent approximately U.S. $130 million in exploration in the Guyana-Suriname basin with approximately U.S. $40 million relating to the acreage now known as the Kanuku PPL. CGX's total spend in the Georgetown PPL since inception has been approximately U.S. $60 million . Given the significant investment already made in this petroleum prospecting licence, we are hopeful that this matter will be resolved quickly in the best interest of all parties and for the overall benefit of the continued exploration in the basin."

About CGX Energy

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-Looking Statements:
This news release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur in the future. These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy. CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition, other risks that may affect the forward-looking statements in this news release are outlined further in the Company's Annual Information Form dated March 5, 2014 filed on SEDAR at www.sedar.com.

The forward-looking statements contained in this news release are made as of the date hereof and CGX Energy undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE CGX Energy Inc.

Image with caption: "Comparison of the Kanuku PPL acreage and the Georgetown PPL acreage. (CNW Group/CGX Energy Inc.)". Image available at: http://photos.newswire.ca/images/download/20140828_C8086_PHOTO_EN_42559.jpg

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Suriname | All
Gold and Silver Prices for these countries : Suriname | All

CGX Energy Inc

CODE : OYL.V
ISIN : CA1254055066
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

CGX is an exploration company based in .

CGX holds various exploration projects in Guyana.

Its main exploration property is JAGUAR-1 in Guyana.

CGX is listed in Canada and in United States of America. Its market capitalisation is CA$ 48.6 millions as of today (US$ 36.8 millions, € 33.2 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 9.80, and its lowest recent point on December 08, 2017 at CA$ 0.06.

CGX has 110 390 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of CGX Energy Inc
4/26/2013Press Release - CGX Completes Private Placement and Announce...
4/23/2013Press Release - CGX Files Year-end Financial Statements and ...
3/25/2013Press Release - CGX Provides Update on Private Placement Fin...
3/12/2013Press Release - CGX Provides Update on Private Placement Fin...
Nominations of CGX Energy Inc
6/28/2013Press Release - CGX Announces Annual and Special Meeting Vot...
5/22/2012Press Release - CGX Appoints Dr. Dennis A. Pieters to the Bo...
1/3/2012Appoints Dr. Suresh Narine to Board of Directors
9/13/2011Appoints Chief Operating Officer and Controller/Chief Accoun...
6/28/2011Appoints David Christian to Board of Directors
5/20/2011Announces Kerry Sully to be AppointedExecutive Chairman and ...
3/15/2011Appoints Investor Relations Representative
Financials of CGX Energy Inc
10/25/2013Press Release - CGX Energy Files Third Quarter Financial Sta...
7/24/2013Press Release - CGX Energy Files Second Quarter Financial St...
8/16/2011Files Second Quarter Financial Results
6/20/2011Files First Quarter Financial Results
6/2/2011Files Annual Information Form
Project news of CGX Energy Inc
3/21/2013Press Release - CGX Releases New Prospective Resources Estim...
10/1/2012Press Release - CGX Farm-out of Georgetown Interest
2/13/2012Press Release - CGX Commences Drilling Eagle-1 Well Offshore...
2/10/2012(Jaguar-1)Press Release - CGX Announces Drilling of Jaguar-1 Well Offs...
12/21/2011Reports on Corentyne Drilling Deferral
Corporate news of CGX Energy Inc
6/25/2015Annual and Special Meeting Voting Results
12/19/2014CGX Energy Provides a Year-End Operational Update
12/1/2014CGX Energy Announces Settlement Agreement with Repsol
11/13/2014announces Kabukalli-1 Exploration Well on the Corentyne Bloc...
11/13/2014CGX Energy announces Kabukalli-1 Exploration Well on the Cor...
11/3/2014CGX Energy Files Third Quarter Financial Statements
10/10/2014CGX Energy Announces Bridge Loan and Operational Update
9/22/2014CGX Energy Announces 3D Seismic Survey and Strategic Equity ...
8/28/2014CGX Energy Announces Order from High Court in Guyana - Uphol...
8/18/2014CGX Energy Provides Operational Update
7/30/2014CGX Energy Files Second Quarter Financial Statements
6/26/2014CGX Energy Inc. - Annual and Special Meeting Voting Results
6/20/2014CGX Energy Provides Operational Update
2/25/2014Press Release - CGX Energy Announces Rig Share MOU with Inpe...
1/20/2014Press Release - CGX Energy Announces Successful Injunction a...
12/24/2013Press Release - CGX Energy Commences Arbitration Proceedings...
10/2/2013Press Release - CGX Energy Provides Corporate Update
8/24/2013Press Release - CGX Energy Inc. - Annual & Special Meeting R...
7/10/2013Press Release - CGX Energy Completes Share Consolidation
5/11/2013Press Release - CGX Energy Proposes Share Consolidation
4/25/2013Press Release - CGX Shareholders Approve Resolutions at Spec...
3/12/2013Press Release - CGX Provides Update on Pomeroon and Georgeto...
2/13/2013Press Release - CGX Announces New Demerara and Berbice Licen...
9/20/2012Press Release - CGX Provides Update
7/16/2012(Jaguar-1)Press Release - Jaguar-1 Well Encounters Light Oil but Ended...
6/27/2012Press Release - CGX Annual & Special Meeting to be Webcast
5/28/2012Press Release - CGX Provides Update on Near Term Funding Req...
4/11/2012Press Release - CGX Provides Update on Eagle-1 Well Offshore...
4/5/2012Press Release - CGX Added to S&P TSX Venture 30 Index and Re...
2/21/2012Press Release - CGX Added to S&P TSX Venture 30 Index and Re...
1/23/20123D Seismic Program on Corentyne License Completed
1/3/2012Announces Management Additions and Changes
1/3/2012Reports Ocean Saratoga Enroute to Guyana
12/5/2011Announces 3D Seismic Program for Corentyne PPL
11/30/2011Awards Drilling Contract for Offshore Eagle Well
10/14/2011Announces Investment by Pacific Rubiales
7/19/2011Confirms Shareholders Rights Plan
6/22/2011Annual & Special Meeting to Be Broadcast by Live Webcast
8/17/2010Completes $20 Million Financing
7/24/2010reases Previously Announced Offering
7/21/2010Revises Public Offering
6/14/2010Announces $65 Million Short Form Prospectus Offering
11/23/2009Reports on Drilling Plans
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (OYL.V)Other OTC (CGXEF)
0.440+2.33%0.325-0.31%
TSX-V
CA$ 0.440
11/18 15:25 0.010
2.33%
Prev close Open
0.430 0.480
Low High
0.430 0.480
Year l/h YTD var.
0.225 -  1.03 4.76%
52 week l/h 52 week var.
0.225 -  1.03 62.96%
Volume 1 month var.
22,516 -38.03%
24hGold TrendPower© : -36
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20198.64%1.140.22
2018145.45%0.630.16
201726.92%0.200.06
2016-31.58%0.250.11
2015-29.63%2.050.17
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.14+0.37%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.00-0.99%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 2.95+0.34%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.52-1.30%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 1.69-0.59%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+50.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.72-0.58%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 0.61-7.58%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.42-2.50%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.10+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.82-3.19%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 21.96-2.66%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :