May 6, 2012: CGX STILL CONDUCTING EXPLORATION https://www.guyanachronicle.com/site/index.php?option=com_content&view=article&id=43172:cgx-still-conducting-exploration&catid=2:news&Itemid=3
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CGX STILL CONDUCTING EXPLORATION
MAY 6, 2012
CGX recently was still conducting exploration operations on the Eagle-1 well offshore of the Corentyne.
The company will issue results when determined.A senior official of the company made the disclosure yesterday in answer to a query from the Guyana Chronicle.
CGX began drilling on February 13 and had originally indicated that drilling would take 60 days.
But early April the company announced that delays, due to minor mechanical issues on the Ocean Saratoga semi-submersible rig and weather conditions, had pushed back the timeframe for the completion of drilling of the Eagle-1 well beyond the originally planned 60 days.
The company said then that it was anticipated that drilling operations will be completed near the end of April.
The update that exploration is continuing ( as at May 4, 2012) was given by Charlotte May, Communications Manager/Corporate Secretary, CGX Energy Inc.
She reiterated that the results of the Eagle-1 well will be issued upon completion of drilling.
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The Eagle-1 well is being drilled offshore of the Corentyne in the Guyana-Suriname Basin, an area ranked by the United States Geological Service as second in the world for oil and gas prospectivity.
CGX had, in January last, disclosed that the Eagle-1 well will appraise the Eocene and Maastrichtian geologic formations formed between 145 and 65 million years ago, to an anticipated total depth of 4,300 metres.