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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

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

Bullboard Posts
Post by catkinon May 07, 2012 5:53pm
576 Views
Post# 19881933

Jaguar TD

Jaguar TD

CGX has stated that the Jaguar well will take 180 days to drill!

Here are some facts!

Eagle took 73 days to drill to 4328 metres, that is equivotent to an average of  59.288 m/day.

Their original estimate to drill was 60 days, or 72.133 m/day.

They had some weather and mechanical problems that slowed things down, hence them not meeting the 72.133 m/day average.

The Jaguar well is being drilled faster that expected and there has been no indication of associated weather and mechanical delays, so one could assume that they will at least average around 72 m/day.

Jaguar was started on February 9th. To-day marks the 87th day of drilling which, at an average of 72 m/day, equates to a current depth of 6264 metres.

The Jaguar well is projected to have a total depth of 6500 metres, which means that they should be there within 3 to 4 days time. Then a short period for testing puts the results pretty soon! Say within two weeks.

Love to hear any rebuttals! OMHO.

 

 

Bullboard Posts