Brief: CGX Energy And Frontera Energy Announce Transaction For The Corentyne Block That Secures Funding For The Wei-1 Exploration Well

CGX Energy

22/07/2022 12:39

July 22 (Reuters) - Frontera Energy Corp  FEC.TO :
    * CGX ENERGY AND FRONTERA ENERGY ANNOUNCE TRANSACTION FOR
THE
CORENTYNE BLOCK THAT SECURES FUNDING FOR THE WEI-1 EXPLORATION
WELL
    * CGX ENERGY INC - PARTICIPATING INTEREST IN CORENTYNE BLOCK
NOW
32% CGX AND 68% FRONTERA
    * CGX ENERGY INC - CGX AND FRONTERA AGREE TO CONVERT MAY
2021 AND
MARCH 2022 LOANS INTO PARTICIPATING INTEREST IN CORENTYNE
    * CGX ENERGY INC - JOINT VENTURE ANTICIPATES SPUDDING WEI-1
EXPLORATION WELL IN OCTOBER 2022
    * CGX ENERGY INC - AS PART OF AGREEMENT, CGX WILL TRANSFER
29.73%
OF ITS PARTICIPATING INTEREST IN CORENTYNE BLOCK TO FRONTERA

Source text for Eikon:  ID:nCNWXb1WMa 
Further company coverage:  FEC.TO 

 ((Reuters.Briefs@thomsonreuters.com;))