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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 Schreibzeyon Apr 09, 2024 12:36pm
120 Views
Post# 35979308

RE:RE:Question

RE:RE:QuestionI'll take what's behind door number 4, please:

PART VI – UNITIZATION Unitization 43. (1) Where a petroleum reservoir extends beyond the boundaries of an exploration license area into the area of one or more exploration licences held by other licencees, the Minister may, for the purpose of ensuring optimum recovery of petroleum and protection of the economic interests of the state, direct the holders of the respective licences that overlay the petroleum reservoir to enter into a unitization agreement to coordinate development and production of the reservoir as a single unit.

https://petroleum.gov.gy/sites/default/files/2023-06/Petroleum%20Act%20Preliminary%20Draft%20-%20updated_1.pdf

Page 32 of 56 is where the snip above comes from
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