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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 Atonon Aug 03, 2019 9:34am
92 Views
Post# 29991651

RE:CGX conf. call -

RE:CGX conf. call -

And moving to Guyana. As I said in my brief words. We continue to evaluate the prospectivity of our two blocks, which looks extremely exciting. As I mentioned, we’ve got one area of the Corentyne block, which has never been properly imaged with modern high-quality 3D seismic data. So we are taking the opportunity while there are seismic boats in the country to fill that gap, so that we have a complete 3D seismic coverage of both of our offshore blocks.

And we can use that then to enhance our view of the prospectivity. We already have a number of potential drilling locations identified but we want to make sure that we really target our drilling campaign at the best quality prospects that we’ve got. And yes, we recognize that a well has recently started drilling in an adjacent block, and obviously, we’ll watch with interest the results of that well. Does that address your question? Do you have any follow up from that?

Bullboard Posts