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CGX Energy Files Year-End 2020 Audited Consolidated Financial Statements
Toronto, Ontario--(Newsfile Corp. - March 18, 2021) - CGX Energy Inc. (TSXV: OYL) (" CGX Energ...
About this update from Cgx Energy Inc.
[{"type":"text","content":"CGX Energy Files Year-End 2020 Audited Consolidated Financial StatementsToronto, Ontario--(Newsfile Corp. - March 18, 2021) - CGX Energy Inc. (TSXV: OYL) (\"CGX Energy\" or the \"Company\") announced today the release of its audited consolidated financial statements for the year ended December 31, 2020, together with its Management Discussion and Analysis. These documents will be posted on the Company's website at www.cgxenergy.com and on SEDAR at www.sedar.com. All values in this news release and the Company's financial disclosures are in United States dollars unless otherwise stated.Gabriel de Alba, Co-Chairman of CGX Energy, commented: \"CGX commenced 2021 with the management team continuing its progress toward optimizing the Company's financial performance and strengthening its balance sheet and on maximizing its unique opportunities in its highly prospective blocks in the Guyana basin. Operationally, we are focused on executing a world-class exploration program on our Corentyne and Demerara offshore blocks, which cover 2.7 million gross acres in one of the world's most promising offshore basins. To support this effort, we have built a best-in-class technical and operational team, which gives us further confidence in successfully implementing our plan, evaluating strategic opportunities and realizing this opportunity in a prolific basin that has immense interest in the industry.\"Mr. de Alba added, \"We have also resumed construction of the Berbice Deep Water Port, the aim of which is to accommodate the rapidly growing exploration activities across the Guyana-Suriname basin, as well as to support growth of the Guyanese economy by supporting agricultural, containerized and general cargo. We are excited about our opportunities to generate value for our shareholders.\"Suresh Narine, Executive Co-Chairman, added: \"Looking ahead, CGX Energy is now poised to launch an exciting exploration plan for the Kawa-1 and Makarapan-1 wells on the Corentyne and Demerara Blocks, leveraging the strategic and technical support of the Company's key shareholder and joint venture partner, Frontera Energy Corporation. As we enter 2021, we are excited for these multiple opportunities to create value for CGX Energy's stakeholders in the years to come.\"2020 Highlights and Key Events Subsequent to Year EndThe Company continued to strengthen its board...