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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 westcanprideon Mar 30, 2022 6:07pm
226 Views
Post# 34560791

RE:Shell,

RE:Shell,As many probably know, Shell famously backed out of the Stabroek Block in 2014 prior to the drilling of Liza-1 in 2015.
https://oilnow.gy/featured/we-didnt-realise-the-significant-potential-of-stabroek-block-says-shell-vp-exploration/

Obviously Shell has regret (who wouldn't) and it is enough for them to buy back in Corentyne? Other than the obvious companies (Exxon/HESS/CNOOC & Apache/Total), Shell probably knows the geology of the Guyana sub-basin best. They might even have old presentations (or even senior staff) still on board from the pre-2014 period and thus would have a inside edge in being able to compare the Corentyne seismic/well result with the work they have done internally on Statborek.

Guess we will see. It is internesting the Wei-1 is being projected to start drilling in May (based on reports filled with the government, as others have posted). Something would have to give ASAP if that were true. 



 
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