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 > Today's Thoughts

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Comment by ShooterMcGon May 10, 2022 5:29am

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Post# 34669518

RE:RE:Today's Thoughts

The gas could be commercial if there was either a local market, or some onshore LNG processing that allowed the gas to be transported globally.

It's in the Guyana government's thoughts to use the offshore gas:
https://www.reuters.com/business/energy/guyana-studying-natural-gas-pipeline-shore-minister-bharrat-2022-05-03/

Condensate is usually very similar to light oil. The problem is often that gas is produced with it. So you need to find some where to put the gas. If you find a way to sell the gas, you probably have a commercial condensate.

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