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quote:
Originally posted by Mr.T:
I have been reliably informed that CGX will be repaid by the Guyanese government for every single cent of the money that is spent on the drilling process. So there won't be any financial risks placed on CGX. Is that a common business practise in the drilling industry?

There is a risk sharing arrangement. If no oil ever flows, GoG takes certain losses and CGX absorbs their part. If commercial oil is found, special time limited tax breaks help CGX recoup their investment. It is not necessarily standard but every Govt makes arrangements which ensure the best deal. Prospecting company also negotiate in their interest. At this point in Guyana's oil exploration, risk sharing is critical.
Exactly which risk is CGX taking? As is apparent so far, they don't actually incur any expenses. All the costs are underwritten by the Guyanese government. That then raises the question as to why the PPP regime wound up the GPL and handed the inexperienced CGX the job whilst still paying the cost of exploration. The whole contract and arrangement stinks of corruption on a grand scale.
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Originally posted by Jupiter:
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Originally posted by Pointblank:
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Originally posted by Jupiter:
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Originally posted by Jupiter:
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Originally posted by Dhall:
I would advise you to visit the company website and educate youself on the company as well as learn a little about the oil business. Smile



If the PPP was that bad you would not have had the opportunity to pour your out guts and all that's inside it on this page...


Sorry, the above comment is intended for "Pointblank"


BTW CAN YOU DISPROVE ANY OF THE COMMENTS I MADE IN THE ABOVE POST


I will not waste time... Guyana has one of the fastest growing economies in the region and it is NOT "bankrupt" or "decaying".


And GY cannot move from being the second poorest in the western hemisphere and GY continues to climb the ladder of corruption.

take off your blinders and you will see the real big picture
quote:
Originally posted by Mr.T:
Exactly which risk is CGX taking? As is apparent so far, they don't actually incur any expenses. All the costs are underwritten by the Guyanese government. That then raises the question as to why the PPP regime wound up the GPL and handed the inexperienced CGX the job whilst still paying the cost of exploration. The whole contract and arrangement stinks of corruption on a grand scale.



The more you write on CGX the more you choose not to be informed, or worse, you write falsehoods to attack CGX. What's your game?
Both you and your sources are wrong. Educate yourself by going to the company website rather than spewing this nonsense.

quote:
Originally posted by Mr.T:
I have been reliably informed that CGX will be repaid by the Guyanese government for every single cent of the money that is spent on the drilling process. So there won't be any financial risks placed on CGX. Is that a common business practise in the drilling industry?
quote:
Originally posted by Dhall:
Both you and your sources are wrong. Educate yourself by going to the company website rather than spewing this nonsense.

quote:
Originally posted by Mr.T:
I have been reliably informed that CGX will be repaid by the Guyanese government for every single cent of the money that is spent on the drilling process. So there won't be any financial risks placed on CGX. Is that a common business practise in the drilling industry?


You think so? Then tell me why was that written in the contract that CGX signed with the Guyanese government on the 14th of October 2010? Or are you also claiming no such contract was signed on that date Wink. Or maybe you didn't know until now that such a contract was signed, let alone that I knew about it Big Grin.
Merry Christmas to all. I'll respond later.

quote:
Originally posted by Mr.T:
quote:
Originally posted by Dhall:
Both you and your sources are wrong. Educate yourself by going to the company website rather than spewing this nonsense.

quote:
Originally posted by Mr.T:
I have been reliably informed that CGX will be repaid by the Guyanese government for every single cent of the money that is spent on the drilling process. So there won't be any financial risks placed on CGX. Is that a common business practise in the drilling industry?


You think so? Then tell me why was that written in the contract that CGX signed with the Guyanese government on the 14th of October 2010? Or are you also claiming no such contract was signed on that date Wink. Or maybe you didn't know until now that such a contract was signed, let alone that I knew about it Big Grin.
quote:
Originally posted by Dhall:
Merry Christmas to all. I'll respond later.

quote:
Originally posted by Mr.T:
quote:
Originally posted by Dhall:
Both you and your sources are wrong. Educate yourself by going to the company website rather than spewing this nonsense.

quote:
Originally posted by Mr.T:
I have been reliably informed that CGX will be repaid by the Guyanese government for every single cent of the money that is spent on the drilling process. So there won't be any financial risks placed on CGX. Is that a common business practise in the drilling industry?


You think so? Then tell me why was that written in the contract that CGX signed with the Guyanese government on the 14th of October 2010? Or are you also claiming no such contract was signed on that date Wink. Or maybe you didn't know until now that such a contract was signed, let alone that I knew about it Big Grin.


Are you ready to respond yet?

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