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. The Company is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in the Berbice, Guyana. The Company holds interests in three petrol prospecting licenses, such as Corentyne, Berbice, and Demerara Blocks in the Guyana Basin. The Company has drilled two operated exploration wells on its offshore Corentyne Block and drilled three more exploration wells on its onshore Berbice Block. In addition, it has acquired and processed over 7,000 square kilometers of three-dimensional (3D) seismic data on its offshore licenses. The Company through its wholly owned subsidiary, Grand Canal Industrial Estates Inc. The Company is engaged in the development of the Berbice Deep Water Port in Region 6, Guyana. Its other subsidiaries include CGX Resources Inc., ON Energy Inc., and others.

TSXV:OYL - Post by User

CGX Energy Inc

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Comment by catkinon Apr 17, 2012 9:05pm

426 Views

Post# 19805317

RE: Consider OYL at $1.03 a share

Further to my earlier post, I started thinking about Repsol's increase in reserves for Jaguar and the faster drilling scenario.

Could it be a situation where they have drilled into, or through, an unexpected layer of oil bearing material such as sand, which would obviously be much easier to drill through.

Didn't Tulow drill through three layers of oil bearing material for their total oil bearing depth?

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