Canadian Oil Stocks

Oil Stocks and Oil Companies in Canada


Joint Venture Partner CGX Announces Agreement with Maersk to Drill Kawa-1 Well, Offshore Guyana

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Targeting Early Third Quarter Spud

Frontera Provides Notice of Q1/21 Financial Results and Conference Call 

TORONTO, April 22, 2021 /CNW/ – Frontera Energy Corporation (TSX: FEC) (“Frontera” or the “Company“) and CGX Energy Inc. (TSXV: OYL) (“CGX“), joint venture partners (the “Joint Venture“) in the Petroleum Prospecting License for the Corentyne block offshore Guyana, separately announced today that CGX Resources Inc. (“CGX Resources“), operator of the Corentyne Block, has entered into an agreement (the “Drilling Contract“) with Maersk Drilling Holdings Singapore Pte. Ltd. (Maersk), a subsidiary of The Drilling Company of 1972 A/S, for the provision of a … Continue Reading

CGX Energy Announces Stock Option Grant

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TORONTO, Jan. 17, 2020 /CNW/ – CGX Energy Inc. (“CGX Energy” or the “Company“), announces the granting of incentive stock options to purchase 1,510,000 common shares of the Company (the “Options“), subject to regulatory approval.  The Options were granted on January 17, 2020 pursuant to the Company’s stock option plan and are exercisable at a price of $0.71 per share, and are set to expire on January 17, 2025.  The Options vest as follows: (a) one-third of the Options vest immediately; (b) one-third of the Options vest on the six month anniversary of when the Options were granted; … Continue Reading

CGX Energy Announces Appointment of Mr. Gabriel De Alba as Co-Chairman to the Board of Directors

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TORONTO, Jan. 15, 2020 /CNW/ – CGX Energy Inc. (“CGX Energy” or the “Company“), announces the appointment of Mr. Gabriel De Alba as Co-Chairman to the Company’s board of directors (the “Board“). Mr. De Alba was elected as a director of the Company at a special meeting of shareholders held on Tuesday January 7, 2020.

Professor Suresh Narine commented, “Mr. Gabriel de Alba brings to the leadership of the CGX Board a stellar reputation in the financial and business world. While I will continue to function in an Executive role as Co-Chairman, I am honored to serve the … Continue Reading

CGX Energy and Frontera Announce Conversion of Bridge Loan

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TORONTO, Sept. 25, 2019 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX“) and Frontera Energy Corporation (TSX: FEC) (“Frontera“) announced today that Frontera has elected to convert the principal amount outstanding (US$8.8 million) under its bridge loan facility due September 30, 2019 (“Bridge Loan“).

As previously announced on December 4, 2018, December 17, 2018 and February 1, 2019, the principal amount outstanding under the Bridge Loan is convertible at a price of US$0.22 per share (being the US dollar equivalent of CDN$0.29, which was the closing price of the common shares of CGX prior … Continue Reading

CGX Energy and Frontera Energy Receive Approval of Strategic Joint Venture from the Government of The Cooperative Republic of Guyana

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TORONTO, May 3, 2019 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX“) and Frontera Energy Corporation (TSX: FEC) (“Frontera“) announced today that the Government of The Cooperative Republic of Guyana has approved the farm-in joint venture agreement covering two shallow water offshore Petroleum Prospecting Licenses in Guyana, the Corentyne and Demerara blocks.

Under the terms of the farm-in joint venture agreement between Frontera and a wholly owned subsidiary of CGX, CGX Resources Inc., Frontera will acquire a 33.333% working interest in the two blocks in exchanged for a US$33.3 million signing bonus, paid by way of offset of … Continue Reading

CGX Energy Announces Closing of Over-Subscribed Equity Rights Offering

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TORONTO, March 14, 2019 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX” or the “Corporation“) is pleased to announce that it has completed its previously announced rights offering (the “Offering“). Pursuant to the Offering, the Corporation issued to holders of its outstanding common shares (the “Common Shares“) of record as at the close of business on February 11, 2019 an aggregate of 116,102,318 transferable rights (each, a “Right“) to subscribe for, until 5:00 p.m. (Toronto time) on March 12, 2019 (the “Expiry Date“), an aggregate of 116,102,318 Common Shares. Each Right entitled the holder thereof to subscribe for … Continue Reading

CGX Energy Announces Equity Rights Offering

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TORONTO, Feb. 1, 2019 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX” or the “Corporation“) announced today that it will be offering rights (each, a “Right“) to holders of its common shares ( “Common Shares“) at the close of business on the record date of February 11, 2019, on the basis of one (1) Right for each Common Share held (the “Rights Offering“). Each one (1) Right will entitle the holder to subscribe for one (1) Common Share upon payment of the subscription price of C$0.25 (the “Basic Subscription Privilege“). There are currently 116,102,318 Common Shares issued and … Continue Reading

CGX Energy and Frontera Announce Execution of Farm-In Joint Venture Agreement and Bridge Loan

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TORONTO, Feb. 1, 2019 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX“) and Frontera Energy Corporation (TSX: FEC) are pleased to announce today the execution of a farm-in joint venture agreement covering CGX’s two shallow water offshore Petroleum Prospecting Licenses in Guyana, the Corentyne and Demerara Blocks. These agreements remain subject to Guyanese government approval. 

CGX and Frontera are also pleased to announce today that they have entered into an amended and restated bridge loan agreement, pursuant to which Frontera has agreed to extend the term of CGX’s April 25, 2018 bridge loan to September 30, 2019 and … Continue Reading

CGX Energy and Frontera Announce Amendment to Letter Agreement

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TORONTO, Jan. 11, 2019 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX“) and Frontera Energy Corporation (TSX: FEC) (“Frontera“) announced today that they have further amended a letter agreement previously disclosed in a news release of CGX and Frontera on December 4, 2018 and amended on December 14, 2018, to extend the time of the launch of the equity financing in the amount of approximately US$20 million to occur on or prior to February 6, 2019 and anticipated to be completed on or prior to March 15, 2019, subject to regulatory approval.

Further, CGX and Frontera have … Continue Reading

CGX Energy and Frontera Announce Closing of Shares for Debt Transaction

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TORONTO, Dec. 20, 2018 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX“) and Frontera Energy Corporation (TSX: FEC) (“Frontera“) announced today that, further to their news release of December 17, 2018, CGX has issued 5,714,285 common shares in the capital of the Company (the “Shares“) to Frontera to settle a total of US$1.2 million in debt. For further details on this transaction, please see our December 17 press release.

All of the Shares are subject to a statutory hold period expiring on April 21, 2019 in accordance with applicable securities legislation.

About CGX Energy:

CGX Energy is a … Continue Reading

CGX Energy and Frontera Announce Amended Letter Agreement and Shares for Debt Settlement

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TORONTO, Dec. 17, 2018 /CNW/ – CGX Energy Inc. (TSXV: OYL) (“CGX“) and Frontera Energy Corporation (TSX: FEC) (“Frontera“) announced today that they have amended a letter agreement previously disclosed in a news release of CGX and Frontera on December 4, 2018 to enter into a debt settlement transaction and amend the convertible amount under a bridge loan facility.

Shares for Debt Settlement

CGX and Frontera have entered into a debt settlement agreement with respect to the settlement of US$1,200,000 of debt owing to Frontera by CGX through the issuance of 5,714,285 common shares of CGX (the “Common Shares“) … Continue Reading

CGX Energy Files Year-End Audited Financial Statements

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TORONTO, April 6, 2018 /CNW/ – CGX Energy Inc. (“CGX Energy” or the “Company“) announced today the release of its audited consolidated financial results for the year ended December 31, 2017, together with its Management Discussion and Analysis. These documents will be posted on the Company’s website at www.cgxenergy.com and SEDAR at www.sedar.com.

Professor Suresh Narine, Executive Chairman and Executive Director (Guyana) of CGX Energy commented: “2017 has been a pivotal year for the Company, witnessing the renegotiation of its workplans and renewal of its licenses.  During this period, the Company, supported by its … Continue Reading