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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 Oct 17, 2019 11:30am
195 Views
Post# 30240018

3D SEISMIC - TETHYS & TITAN UPDATE

3D SEISMIC - TETHYS & TITAN UPDATE

Fleetmon continues to show the Tethys tracking along the southern Stabroek area and the northern Corentyne area. This assumption is based on cross referencing the Tethys historical maritime route (using Fleetmon) and compare against Stabroek / Corentyne coordinates per the Corentyne PSA (which is available online).


However, Guyana's MARAD just posted an update with respect to CGX 3D seismic campaign: https://marad.gov.gy/wp-content/uploads/2019/10/No.-87_2019_CGX-_Energy-Inc.pdf
 


It seems (per MARAD) the vessel CGX will use is indeed the Titan. Which presently is shooting seismic north of Orinduik and Demerara on Exxon's Stabroek license. Hmmm...



If Stabroek partners are shooting their own uninterrupted 3D in or around the northern Corentyne area - I would hope that would be part of an ongoing dialogue with CGX/Frontera. In turn, both Stabroek partnership and CGX/Frontera are sharing information in or around their respective licenses - and coming to terms as to those reservoirs that may cross into both each other's licenses.


Very interesting indeed - likely why Duncan Nightingale is now on the CGX board.


Happy to see Stabroek partners intrigued to move the Tethy's south of Stabroek and into the Northern Corentyne Area - they must know something...


 

Bullboard Posts