Investor Presentaiton
CGX at a Glance
cgx
energy inc
• The Company has a clean balance sheet and is fully funded through the Wei-1 exploration well, to be
spudded in October 2022, upon closing of a recent transaction signed with its JV partner, FEC, on July 21,
2022.
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The July 21, 2022 transaction proposes the transfer of 34.67% of working interest in the Corentyne block
to FEC in exchange of (i) up to $130.0 million funding for Wei-1 well, (ii) up to $28.8 million of certain
Kawa-1 exploration well, Wei-1 well pre-drill, and other costs, (iii) $54 million of outstanding payables
settled, and (iv) $3.8 million cash consideration.
On closing the transaction, subject to condition precedents being satisfied, the Company will own 32% of
the interest in Corentyne PA.
The Company recorded a discovery on the Corentyne block at the Kawa-1 well in 2022: condensate and
light oil discovered in 228 feet of pay in the Maastrichtian, Campanian, Santonian and Coniacian levels.
This discovery has helped de-risk the Wei-1 well, located 14km from Kawa-1 well, raising chance of
success from 29 to 56%.
• Secured funding for the Wei-1 well, secured all permitting, contracted the Maersk Discoverer to drill the
well, retained 95% of expert team which drilled Kawa-1. Spud expected in October 2022.
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Company has spent $21.8 million to date on its Berbice Deep Water Port and is focused on the completion
of the first phase of the facility in 2023.
CGX was recognized as one of the top-performing companies on the TSX Venture 50 2022.
(https://v50.stocktrak.com/)
www.cgxenergy.com
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