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CGX Energy shares surged 17% on heavy volume, driven by increased activity in its Guyana oil projects.
CGX Energy (CVE:OYL) shares jumped 17.1% on Thursday, closing at C$0.24, driven by a 120% surge in trading volume to 210,097 shares.
The Toronto-based oil and gas explorer, focused on Guyana projects including the Corentyne Block and Berbice Deep Water Port, has a market cap of C$81.25 million.
Despite a negative P/E ratio and low volatility, the stock rose amid heightened activity, though the exact reason for the move was not specified.
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Las acciones de CGX Energy aumentaron un 17% debido a un gran volumen, impulsadas por el aumento de la actividad en sus proyectos petroleros de Guyana.