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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 OIL_RUNon Oct 17, 2019 6:16pm
149 Views
Post# 30241938

RE:RE:3D SEISMIC - TETHYS & TITAN UPDATE

RE:RE:3D SEISMIC - TETHYS & TITAN UPDATEWaitingstill - it's possible Apache drilling ~5 miles from the Guyana maritime border might have pushed back the timing of CGX 3D seismic campaign. Perhaps the same goes for the Stabroek partners who have (over the past several weeks) avoided moving the Tethys to the maritime border (or around Haimara). The Tethys route looks like it has been mostly focused around Pluma - though tracking well within the Northern Corentyne Area.


Both seismic vessels and offshore drilling rigs (MODUs) have clear policies in place to ensure other vessels remain a safe distance away. It could be as much as 8 nautical miles of safe distance (discounting the rigs supply vessels).



So, this could be a reason (Apache drilling next to the maritime border) why we are seeing shifting timelines. In addition, now clear the Stabroek partners wanted to obtain additional 3D before heading back to appraise Pluma. Speculating the Stabroek partners will do the same for Haimara and the oil lobe prospect that is up dip of Haimara.


All very exciting!
Bullboard Posts