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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 Atonon Feb 17, 2020 7:11am
224 Views
Post# 30698691

Corentyne Block‐ Campanian, Turonian Targets - 2,867 mmboe

Corentyne Block‐ Campanian, Turonian Targets - 2,867 mmboeAs we can see from the old presentations CGXs Corentyne contains prospects in the same geological age as Apache found 50 meter pay, the Campanian Reservoir Area. Apache desided to end drilling before the hit the 3rd target, Turonian, but the overpressue in in lower Santonian are great indications for a successful future drilling in Turonian. The whole North Corentyne is a big Northern Turonian Fan Complex, and you can also see that Haimara (800 million barrels) is located in this Turonian Fan complex. 

See the CGX corporate presentation March 2015 slide 6 (here you can also see the campanian prospects.

Apache:
>>
The shallower Campanian interval contains 50 meters (164 feet) of net hydrocarbon-bearing reservoir. Preliminary fluid samples and test results indicate light oil and gas condensate with API gravities between 40 and 60 degrees.>>

>>The pressures encountered in the lower Santonian are a positive sign for the Turonian and future drilling will test this interval.>>


CGX:
We can also see from the old presentation the Corentyne all prospects summary, Low case (P90) 766 mmboe, Mid case (Pmean) 2,867 mmboe, High Case (P10) 5,444 mmboe. 

Bullboard Posts