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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 firo1988gton Oct 22, 2022 9:12am
392 Views
Post# 35040779

NOBLE DISCOVER TO ARRIVE GUYANA THIS WEEKEND-PER OILNOW

NOBLE DISCOVER TO ARRIVE GUYANA THIS WEEKEND-PER OILNOW

CGX Resources Inc.’s Wei-1 well is expected to be spud later this month when the Noble Discoverer semi-submersible drilling rig arrives in Guyana on October 22.

After the completion of a merger of Noble Corp. and Maersk Drilling on October 3, the Maersk Discoverer was renamed to reflect the name of the merged company, Noble.

The contracted period for the vessel’s use in Guyana runs from October 22, 2022, to January 23, 2023, according to Noble’s Fleet Status Report.

The Wei-1 exploration well is located approximately 14 kilometres northwest of the Kawa-1 exploration well in the Corentyne block, approximately 200 kilometres offshore from Georgetown.

The Wei-1 exploration well will be drilled in water depth of approximately 1,912 feet (583 metres) to an anticipated total depth of 20,500 (6,248 metres) and will target Campanian and Santonian aged stacked channels in a western channel complex in the northern section of the Corentyne block.

London-based energy intelligence firm, Westwood Global Energy, has called Wei-1 a ‘large, high-impact’ prospect and a ‘key well to watch’.

Following updated results on the Kawa-1 well, which noted the discovery of light oil and gas condensate, the partners had said that the chances of success at Wei-1 nearly doubled from 29% to 56%.

GLTA  FIERO

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