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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 Nov 17, 2020 9:10am
172 Views
Post# 31913267

RE:RE:Kaieteur Block

RE:RE:Kaieteur BlockIf Ratio is down 50 percent, that is a good warning if we are ever so fortunate to drill. I believe they gave that well 80 percent chance of success and they actually did hit 16m of pay but small interval in a very deep hole with heavy oil made it not commercial so down goes SP. So, if we ever get to drill, make sure you have protected your capital to some extent. There are no sure things in this industry. Now we need to get the first step done - get that renewal official!
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