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Update: CGX Energy Sees Lots More Action, Retains Earlier Gains After Trade Resumption

CGX Energy Inc. (OYL.V) is receiving plenty of attention but shares are mostly holding up despite the oil and gas company saying it did not have a stake in a new discovery drilled by Tullow Oil plc off the coast of French Guiana.

CGX shares rose sharply early, reaching 85 cents each before trading was halted at 9:44 a.m. CGX later issued a statement saying it is a 25% partner with Tullow and two other companies in another offshore license in Guyana, located about 500 kilometres away from Tullow's new Zaedyus well.

Trading in CGX resumed at 2 p.m.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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