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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

Post by rhaqqon Jan 19, 2022 11:50pm
341 Views
Post# 34336047

FEC EXPLORATION WELL, The Jandaya-1 exploration well

FEC EXPLORATION WELL, The Jandaya-1 exploration wellFEC   EXPLORATION  WELL
The Jandaya-1 exploration well was spud on December 7, 2021 to test an exploration prospect in the northeastern portion of the block. The well was drilled to a total depth of 10,975 feet (3,345 meters) and a total of 78 feet vertical depth of potential hydrocarbon bearing reservoir was encountered in three formations. The initial 24-hour test average flow rate for the Lower Hollin formation was approximately 750bbls/d and 1,000kcf/d of gas for a total of 925 boe/d with an average water cut of 17%. Well clean up and additional flow testing in two other zones will be completed in the coming weeks. Frontera is now preparing the required permits to move forward with a long term test for at least six months or a longer period of time if approved by authorities.
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