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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 catkinon Jul 15, 2012 2:48am
656 Views
Post# 20114625

RE: Concerning the spud date

RE: Concerning the spud date

It is my understanding that Repsol took possesion of the the rig on December 5th from it's previous location.

There would have been some transportation and set-up time to delay spudding of Jaguar, but I have always thought that from December 5th to Feb 9th was an inordinate amount of time given the close proximity of the two wells. With this in mind, I have always thought that drilling of Jaguar could have started ealier that what they are saying!

This may explain why they have stated that they are ahead of schedule and the reason why they scheduled the Presidents site visit together with the updated resource amount due to hitting shallow oil returns.

The bottom line is that we should hopefully hea some  possitive results very soon and the Attwood Beacon should be on it's way.

Remember that there have been many more positive indicators during the drilling schedule than negative and IMO this play will not be a duster!

Good luck to all longs! We have waited far too long, but the rewards will be spectacular!

Bullboard Posts