Off-market insider buying at CGX Energy (V:OYL)

Pacific Rubiales Energy Corp., a 10% Holder, acquired 11,737,747 Common Shares on a direct ownership basis at a price of $1.630 through a prospectus or prospectus exempt offering on October 29th, 2021. The insider also acquired 1,173,774 Warrants with an exercise price of $1.510 for five years. This represents a $19,132,528 investment into the company's shares and an account share holdings change of 4.8%.

CGX Energy is in the Oil & Gas Exploration and Production Sub Industry Group under the Energy Sector.

CGX Energy Inc. is an oil and gas exploration company. The Company is engaged in exploring for hydrocarbons in Guyana, South America. The Company operates through petroleum and natural gas exploration in Guyana segment. The Company holds an interest in approximately three Petroleum Agreements (known as the Corentyne, Berbice and Demerara Blocks) covering over 3.3 million gross acres (approximately 3 million net acres) offshore and onshore Guyana. The Company conducts its exploration activities in Guyana through its subsidiaries. The Company's offshore concessions include Corentyne and Demerara. Its onshore concessions include Berbice. The Company's subsidiaries include CGX Resources Inc. (CGX Resources), ON Energy Inc. (ON Energy), GCIE Holdings Limited, Grand Canal Industrial Estates Inc. (Grand Canal) and CGX Energy Management Corp. CGX Energy Inc. (OYL) has below median officer and director direct ownership compared to its small-cap peers in the market, based on our estimate using SEDI data. According to regulatory filings yesterday, one insider has invested a total amount of $19,132,528.