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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
Comment by STVPon May 20, 2012 1:23pm
423 Views
Post# 19929833

RE: RE: RE: Jaguar results

RE: RE: RE: Jaguar results

waitingstill - Jaguar-1 well main purpose was to test the Turonian geologic zone and will be/is the deepest well to be drilled in the basin so far (6,500 metres).  The way I interpret what Repsol put in their presentation is "Cuba/Guyana" results expected May/June - now we know Cuba came out Friday but I certainly think it's just a miss interpretation to think Guyana results will be out by June.  I will be the first to tell you that I disagree with what Repsol said in terms of results out for Jaguar by end of June - Jaguar is/was scheduled to take 180 days to reach total depth, unless they had no clue and completely under estimated drilling time, total depth is not going to be reached by end of June (end of June would only be 142 days since the well spud).

 

 

However, if they are correct in reporting results by end of June, I think it would be to say something on the Campanian geologic zone (like Sierra Leone discovery) but certainly not the Turonian geologic zone (like Zaedyus and Jubilee). Again, the main purpose of the well was to test the Turonian zone so unless they already made a discovery in the Campanian zone and can't wait until total depth to report all results, I can't see results prior to end of June

Bullboard Posts