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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

Comment by waitingstillon Oct 04, 2020 2:51pm
145 Views
Post# 31664653

RE:3D Seismic Gamble Failed

RE:3D Seismic Gamble FailedWcp - cgx did not "gamble" on doing the 3D on northern corentyne. It was mandatory to do it before a drill. But the idiots should have done it in 2015 as soon as Liza hit. Morons. They need the 3D to have any hope of getting a JV which is needed to provide the funds to drill. $10mil spent on seismic is not the difference on whether they drill or not. Everything is lined up. I hope govt says do it within 12 months or your done (which is what you have been saying) because there is nothing left to delay getting the JV. Seismic should be completed. All targets should be identified. 3rd party resource estimate should be done soon. These buffoons need one more shot to get this right so we don't lose our shirts.
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