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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 oldcompanymanon Nov 17, 2021 9:04am
200 Views
Post# 34135364

RE:RE:OCM

RE:RE:OCMHi again, Blinded by the word "ascertain", I might have missed the gist of your message...

Probably the more relevant answer you are looking for is that one:

An exploration well encountering (several) hydrocarbon bearing formations with flow potential (but regardless of commercial quantities being in place) would take, as a general indication, longer to drill than the very same well going through layers of the same hardness etc that would not hold hydrocarbons in place, due to many points related to pressure management, gas levels management, potentially wellbore stability issues, loss/kick issues etc. It is not to say that none of these issues exist in dryholes, they do exist but as a general rule HC-bearing formations will give you more (and a combination) of these points and as a consequence you will be slowed down.

GLTA,
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