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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 Dirksidetrackon May 11, 2022 1:28pm
157 Views
Post# 34674624

RE:# Unanswered Questions

RE:# Unanswered QuestionsYancy, I'm definely over-stepping my technical bounds here and had hoped that people like Plainview Oil who does know his stuff weren't disduaded from posting. He said (paraphrasing) that you can find hundreds of millions of barrels of oil but if it's not economically feasible to produce then it's worth nothing at this point in time. Just like Bakken shale oil was worth zilch in the 1970s.

So they found 228 feet of pay distributed over many thin sections of sandstones. Is it economically producable? They don't know yet. If they did they would have said so. The sp is reacting to what they didn't say.

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