Leadership Changes

CGX Energy (TSXV:OYL) reported a $56.4 million impairment loss on its Corentyne Block exploration assets due to the Guyanese government’s stance on the Joint Venture’s rights. The Corentyne E&E asset’s carrying value is now $Nil. Dr. Suresh Narine resigned, and Orlando Cabrales became Chairman. Alejandra Bonilla and René Burgos Díaz were appointed as new directors. CGX maintains its license is valid but faces uncertainty and is prepared to protect its rights legally.