CGX Energy (CVE:OYL) Trading Up 23.1% - Still a Buy?

Key Points

• Shares jumped 23.1% to C$0.24 on Friday, with ~107,504 shares traded—about 13% above its average daily volume.
• Weak fundamentals: market cap C$88.0M, negative PE (-1.13) and very low liquidity (current ratio 0.06, quick ratio 0.10), indicating potential cash/solvency stress.
• Company focus: CGX is an oil & gas explorer in offshore Guyana (Corentyne block) and is developing the Berbice Deep Water Port project.

CGX Energy Inc. (CVE:OYL - ) was up 23.1% during trading on Friday . The company traded as high as C$0.24 and last traded at C$0.24. Approximately 107,504 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 95,007 shares. The stock had previously closed at C$0.20.

CGX Energy Price Performance

The firm has a market capitalization of C$88.02 million, a PE ratio of -1.13 and a beta of 1.96. The business has a 50-day moving average of C$0.25 and a 200 day moving average of C$0.19. The company has a current ratio of 0.06, a quick ratio of 0.10 and a debt-to-equity ratio of -12.35.

About CGX Energy

CGX Energy Inc, an oil and gas exploration company, explores for and evaluates petroleum and natural gas properties in Guyana, South America. It holds interests in a petroleum prospecting licenses and related petroleum agreements on Corentyne block in the Guyana Basin, offshore Guyana. The company also constructs and develops the Berbice Deep Water Port project in Guyana. CGX Energy Inc was incorporated in 1998 and is headquartered in Toronto, Canada.

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