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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 OIL_RUNon Apr 25, 2019 3:38pm
145 Views
Post# 29671223

HAIMARA - DEEPER OBJECTIVE IDENTIFIED, TO BE DRILLED

HAIMARA - DEEPER OBJECTIVE IDENTIFIED, TO BE DRILLEDHess conference call has been well documented per earlier posts.


To add from earlier posts, an analyst on the call asked about the partnerships next steps on Haimara and whether or not they would be going back to test a deeper propsect that resides below the Haimara discovery.


Hess confimed that during the drilling of Haimara - a deeper objective was identified that had not been tested in the original Haimara well. The partnership are making plans to not only appraise Haimara - but test this deeper interval.


As mentioned by earlier posts  Exxon/Hess will be busy through September appraising Hammerhead and Ranger - along with Liza development drilling. After that, however, the partnership has prioritized 3 new exploraiton wells. To keep up with the partnerships envisioned exploration pace - Exxon will be bringing in a 4th drilship by 2H-2019.


In terms of the 3 priority exploraiton wells - Hess indicated the deeper propsect below Haimara was right up there in terms of importance and materiality.


Where these 3 new exploration prospects are on the Strabroek Block (and associated proximity to CGX's Corentyne Block) - seems to be guarded for now...  Same question applies to the deeper propsect that resides below the Haimara discovery - how close does it get to Corentyne...
Bullboard Posts