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CGX Energy Announces Special Meeting Voting Results
Toronto, Ontario--(Newsfile Corp. - January 9, 2020) - CGX Energy Inc. (TSXV: OYL) (" CGX Ener...
About this update from Cgx Energy Inc.
[{"type":"text","content":"CGX Energy Announces Special Meeting Voting ResultsToronto, Ontario--(Newsfile Corp. - January 9, 2020) - CGX Energy Inc. (TSXV: OYL) (\"CGX Energy\" or the Company\") announced today that a special meeting of shareholders was held on Tuesday January 7, 2020, where each of three nominees proposed as directors, who had not been previously appointed by the shareholders at the Company's last annual general and special meeting on June 27, 2019, pursuant to the Company's management proxy circular dated November 27, 2019 were elected as directors. The detailed results of the vote are set out below:NomineeOutcome of VoteVotedVoted (%)Gabriel de AlbaApprovedFor: 199,599,373Withhold: 222,81299.9%0.1%Duncan NightingaleApprovedFor: 199,571,313Withhold: 250,87299.9%0.1%Hermann TribukaitApprovedFor: 199,603,183Withhold: 219,00299.9%0.1% The current board of directors is now comprised of Suresh Narine, Gabriel de Alba, Dennis Mills, Duncan Nightingale and Hermann Tribukait.Professor Suresh Narine, Executive Chairman of CGX Energy commented, \"CGX Energy has, over the past three years, embarked on a successful, measured and deliberate trajectory to restructure its finances and clean up its balance sheet, secure funding and joint venture partners, revise its geological assessments in light of recent and continuing discoveries in the Guyana-Suriname basin and acquire further 3D seismic coverage on its Corentyne Block in the northern segment of the block, bordering the Stabroek Block: approximately 2 and 8 miles from the Pluma and Hiamara Discoveries respectively. In 2020, the Company aims to focus on the drilling of two explorations wells, one on the Demerara Block and one on the Corentyne Block, and the development of its Deep Water Harbor in Berbice, Guyana. CGX is enthused by the recent discovery on Block 58 in Suriname, east of the Corentyne Block. Importantly, this discovery which is located in the upper Cretaceous, is indicative of oil migration from the source kitchen which has charged the discoveries on the Stabroek Block, in significant quantities approximately 7 miles from the Corentyne Block boundary. The election of Messrs. Nightingale, Tribukait and de Alba to the CGX Energy board by its shareholders now equips the Company with a unique skillset at the board level which is pivotal for the Company as it embarks on an exciting ye...