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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 Ermospon Mar 03, 2022 3:24pm
311 Views
Post# 34480422

RE:CGX / FRONTERA UPDATE

RE:CGX / FRONTERA UPDATE

Oh, there's my sweet sweet hopium. Seriously though, thanks for the detail. 2 Qs:

- missing Flow testing is one thing, but no mdt or core data seems like a reasonable reason for a drop. If they believed they had commercial fluids, why would they not persist to get these tests - is that not common?

- What level of certainty can they get on oil quality with just wireline log and drill samplings, borehole fluids? It feels like much lower than "we have xxfeet of oil of this API" so the value of the discovery will be much discounted.

thanks


 

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