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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

Energy Oil & Gas E&P
CGX Energy Inc. is a Canada-based oil and gas exploration company. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

CGX Energy Inc
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Comment by shleevoon Oct 24, 2011 1:20pm
438 Views
Post# 19176310

RE: Cormark Securities

RE: Cormark SecuritiesI re-iterate.  Why spend $15million on 3D of an target that is on trend with Inpex's target without knowing any results??  There are other Albian targets and leads that they could spend money on, but they have chosen a play believed to be on trend with Inpex. 

If Inpex is a duster, this makes absolutely no sense to me.  You're preparing to drill a target that is on trend with a total duster?  CGX must know a lot more than they are saying about Inpex's well.  I would be very surprised if Inpex has poor results.  I'm expecting very good news from Inpex and we're still waiting for the rig. 

From Cormark: 

To prepare for a second commitment well, CGX intends to shoot a
new 3D seismic program at a cost of approximately $15.0 MM over an Albian / Maastrichtian prospect
believed to be on trend with the well currently being drilled by INPEX.
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities
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