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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 Nov 21, 2019 5:16pm
219 Views
Post# 30380054

RE:RE:Apache

RE:RE:Apache Waitingstill -

I agree. Went back and looked at the Oct 31st Apache earnings call and it seems (at that time) they were already in the first target zone.


It's likely they have been evaluating and testing for more than a week. Wireline logs, side wall cores, MDTs, multiple side-tracks, full barrel cores - this can take time. Especially considering they are using this well to test 2 cretaceous targets.


As the Apache CEO stated: thick reservoir sands based on seismic interpretation. We also know Apache is highly confident given they decided to hold 100% interest in Block 58.


I am thinking we should hear something next week from Apache next week. Who knows, Apache may be our next partner on Corentyne. It would make sense the prospective partners comprise those who have interest in the adjacent licenses.


Just a matter of time...

Bullboard Posts