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Gold/Mining/Energy : CGX Energy INC. a blockbuster stock? -- Ignore unavailable to you. Want to Upgrade?

To: Drex who wrote (568)	4/27/2002 9:07:48 AM
From: Terry Maloney	Respond to of 591

I suppose having a couple of targets outside the disputed area is worthwhile insurance. No mention of how they're going to pay for it, however. Another rights offering? Or perhaps they've found some interested German investors? "CGX Begins Trading on Frankfurt Stock Exchange" biz.yahoo.com Meanwhile, Suriname is "not quite ready": Suriname `not quite ready' for sub-committee meeting -Insanally Suriname is "not quite ready" for the meeting of the sub-committee of the border commissions which is to be convened to look at best practices that could assist Guyana and Suriname in a decision on possible joint exploration for oil. Responding to a question on the status of meetings and decisions taken by the sub-committee for submission to the border commissions, due to meet next month, Foreign Affairs Minister Rudy Insanally said that in discussions with his Surinamese counterpart, Marie Levens, during the Caribbean-UK Forum in Georgetown earlier this month, she had explained that they were not quite ready. The sub-committee was set up following President Bharrat Jagdeo's visit to the neighbouring country in January. The purpose of the sub-committee was to look at the various options open to both parties for joint exploration and exploitation of maritime resources, especially in the area of overlap. Jagdeo and Suriname President Ronald Venetiaan signed an agreement to this effect at the end of the two-day visit the Guyanese leader made. Its establishment was seen as a key step forward in easing the row that erupted in June 2000 following Suriname's armed eviction of an oil exploration rig from Guyana's waters. Suriname had said that the rig was in its waters and several rounds of talks between the two countries failed to elicit a clear breakthrough. Guyana, Insanally told a press conference yesterday, has a working group that was looking at various options so that when "we come to the table we can exchange ideas." He expressed the hope that the deadline set will be kept. On Suriname not being ready to meet, he said that Levens has assured him that Suriname was committed to the process. The border commissions are due to meet by next month here in Georgetown. In such a case, he said, he would not rule out an exchange of options before the commission meets. Proposals for discussions at this meeting have to be submitted to both sides by the end of April, according to an agreement by the commissions at a meeting held in mid-January in Paramaribo. This has not happened as yet. In the meantime, he said that the Ministry of Foreign Affairs was trying to give life to the agreements reached under the cooperation council agenda. Many local agencies in Guyana, such as those looking after health, frequency standards and agriculture are hoping to meet with their Surinamese counterparts so that the practical areas of collaboration designated will be given some life. He reiterated that what both parties need to do was to build on their cooperation and to develop the kind of trust and confidence needed between the two neighbouring countries which have been divided for some time over disputes about land, the river and maritime boundaries. Insanally said "We have reasons to believe that if we don't do that we would be denied an opportunity to have access to very valuable resources in the maritime area". (Miranda La Rose) (Back to top) stabroeknews.com