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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 Harel1976on Jan 06, 2024 8:18am
279 Views
Post# 35813621

3 blocks in guyana looking for farm out

3 blocks in guyana looking for farm outThe first is corentyne, located close to the big exxon discoveries, two non commercial discoveries, well cost 120-130m$, cost to farm in high.
The second is orinduik, two heavy oil discoveries, close to exxons discoveries and all the sorrounding blocks got bids in the last round, cretacous well cost 70m$, cost to farm in cheap, got two majors as partners.
The third is kaieteur, located next to the ranger discovery, got a non commercial discovery, well cost 100m$, cost to farm in medium, a very big block, the one next door got bid in the last round.

My assumption is kaieteur will be the first to farm out mid year, the second is orinduik and corentyne third.
Some may not be farmed out at all. 

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