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.

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CGX Energy Inc

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Comment by docsdrillers1on Oct 01, 2012 8:55am

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Post# 20432629

RE: Georgetown block farm out

Here's wishing that Repsol paid the 1/4 of the drill costs for that 5%...i know one can dream a bit can't they.

If that turns out to be true or even if it's a substantial portion of the drill costs then Repsol is saying we are very confident that there is oil there and we will find it when Jag 2 is drilled.

No matter how you slice it this is very positive news and bodes well for future cooperation between CGX and Repsol on perhaps Eagle???

Shouldn't this announcement been coupled with details...the other possibility is we just gave 5% for the money we owed on Jag 1.

Either way it set a precedent what 5% is worth.

Any thoughts;Misfit,Slotmore,Danblasco,Madmike et al

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