Grand Canal Industrial Estates Inc. Berbice Deep Water Port

August 2022

Company Overview

CGX Energy Inc.

(Ontario)

100%

CGX Resources

Inc. (Bahamas)

100%

CGX Resources

Inc. (Guyana

Registered

Branch)

32%

66.667%

Corentyne

Demerara

PPL 1

PPL 2

100%

CGX Energy

Management

Corp. (Delaware)

100%

62%

GCIE Holdings

ON Energy Inc

Ltd. (Barbados)

(Guyana)

100%

Grand Canal

Industrial Estates

Inc. (Guyana)

100%

100%

Berbice Deep

Berbice

Water Port Project

PPL 2

  1. The Company signed an agreement with Frontera on July 21, 2022 to transfer 34.667% interest in the Corentyne block to FEC: after closing, the Company will hold 32% Working Interest in the Corentyne block. The closing of the agreement is subject to certain precedent conditions including TSX-V and Government of Guyana approval.
  2. The Company has, in principle, reached agreements with the Government of Guyana to relinquish the Demerara and Berbice blocks through mutual termination agreements which terms remain to be defined and documented

www.cgxenergy.com

2

Grand Canal Industrial Estates (GCIE)

Company Details

Berbice Deep Water Port

•

•

Grand Canal Industrial Estates Inc. incorporated in Guyana June 30, 2010

Office registered at 234 Lance Gibbs and Irving Streets, Georgetown

  • Principal objectives are to build and operate the Berbice Deep Water Port on the Berbice River in Guyana
  • The original lease from Government of Guyana for 55 Acres of Berbice River Front Land adjacent and North of "Crab Island" was acquired by CGX Resources Inc. on February
    4, 2010, for a period of 50 years

•

•

In August 2012, GCIE acquired the lease from CGX Resources Inc.

GCIE currently holds 30 acres of the Berbice River Front Land

  • GCIE has expended a total of US $21.8 million to date, on the development of the Berbice Deep Water Port

www.cgxenergy.com

3

GCIE Vision

Berbice Deep Water Port

Multi-Service Port

Oil and Gas Exploration

and Production Services

Commodity Import/Export

Regional Shipping

Phase 1 Target: 2023

  • 90m x 30m wharf platform build-out, channel access via a 49m long x 12m wide trestle
  • Access channel intended draft 7m and basin alongside wharf 8.5m at low tide
  • Facility Targets: fuel, oil-field service, agriculture, and commodities (water & electricity)
  • Facility Includes: Warehouse, Workshop, Office Block, Open Logistics Yard at Port Site, and

Waste Management Facility

Phase 2 Expansion Target: 2024 - 2025

  • Expansion Deliverables: Incorporate Container Stackers, Expand Container Yard, Increase Silo Capacity, Wharf Expansion Project, and Traffic Optimization

www.cgxenergy.com

4

Berbice Deep Water Port in Guyana

Factors Motivating

  • Two functional Commercial Oil and Gas Ports available in Guyana
  • Berbice Port located East of Georgetown Harbour
  • Strong desire for local ports in region
  • New port being built on Demerara River
  • Congested Georgetown Harbour has little room for expansion
  • Stabroek Block Partners utilize majority of current Guyanese ports and surrounding international ports
  • Exploration activities in Guyana basin are increasing rapidly with limited local shorebase availability
  • Significant exploration expansion planned in both Guyana and Suriname in near term
  • Government of Guyana has prioritized the development of the Deep Water Port in Berbice
  • Agricultural products in Regions 5 and 6 produce approximately 65% of the national rice crop
  • There is a 20% additional transportation cost on Guyana commodities to ship to Port Georgetown

www.cgxenergy.com

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CGX Energy Inc. published this content on 26 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2022 00:30:09 UTC.