CGX Finalizes Pomeroon Block Acquisition.TORONTO -- CGX CGX Consolidated Graphics Inc. CGX Meigs Field, Chicago, Illinois (Airport Code) Energy Inc.(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: OYL OYL Ohio YSR League OYL One Year Later (DC Comics) .U) is pleased to announce that the Government of Guyana has approved the transfer of Century Guyana Ltd.'s 100% interest in the Pomeroon Prospecting Licence located offshore Guyana to CGX's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , CGX Resources Inc. The Pomeroon Licence is approximately 11,254 sq km (2,781,000 acres) in size and is located adjacent to CGX's 100% owned Annex an·nex tr.v. an·nexed, an·nex·ing, an·nex·es 1. To append or attach, especially to a larger or more significant thing. 2. portion of the Corentyne Licence. Water depths in the Pomeroon Licence range from 20 to 170 metres. The Pomeroon Petroleum Prospecting License has also been extended to November 19, 2009 by the Government of Guyana. During the First Phase of the First Renewal Period terminating May 19, 2005, CGX's work commitment includes reprocessing Reprocessing may refer to:
All conditions precedent to the Purchase and Sale Agreement previously announced on November 13, 2003 have now been satisfied. The terms of the acquisition are that in return for a 100% interest in the Pomeroon Licence, CGX has agreed to pay to Century Guyana, Ltd. US $150,000 and 2 million common shares of CGX, the issuance of which remains subject to regulatory approval. For further information on the Pomeroon Licence please refer to CGX's November 13, 2003 press release which is available online at www.cgxenergy.com. With this acquisition, CGX now holds an interest in 9.8 million acres (approximately 40,000 square kilometers) (7.7 million acres net) both onshore and offshore in Guyana. In addition, CGX is also pleased to announce that the term of the original Corentyne Licence (2.8 million acres) has been extended by the Government of Guyana to June 24, 2011. CGX Energy Inc. (TSX-V- OYL.U) is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana basin and is actively looking at other international opportunities. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, U.S.A. and the UK. CGX is financed internationally and has thousands of shareholders worldwide. THIS PRESS RELEASE WAS PREPARED BY CGX ENERGY INC., WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY. THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUA CY OR ACCURACY OF THIS RELEASE. Shares Outstanding: 63,030,595 Fully - Diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. :74,449,913 |
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