CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > Wouldn’t they already know results from primary target now?

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Comment by oldcompanymanon Oct 21, 2021 7:28am

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Post# 34031336

RE:Wouldn’t they already know results from primary target now?

Hi Ermosp,

Given that they have run only 4 strings, they haven't yet drilled the first target; the 4th string is a 13-5/8" casing through which they will drill with a 12-1/4" bit (this is the operation that must be ongoing as of now) and this will be the diameter they will drill through the first target layer with.

Furthermore as per the depths announced (70% of planned TD) they haven't yet got to the first target.

GLTA,

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