CGX Energy Inc V.OYL

O for

[SportyJ]

Dfly, that was one rough day at the plate. First the morning PR prediction backtrack post (w/ anticipated mkt reaction) followed by the lunchtime Sunshine post about drlg horizon 23 (to be done by Thursday) rounded out by the evening post about the Maersk Discoverer sailing off to Trinidad today because the contract ended yesterday (meaning Kawa-1 was TDd). Painful to see ya swinging at pitches in the dirt. But get some rest and go out there and get em tomorrow. JK I will attempt a bunt here. The 11/3/2021 Maersk fleet status report in bold (indicating a change from the 8/2021 report) does show Discoverer going to Shell Trinidad (dec 2021-may 2022) after Kawa. Then returning to cgx guyana jun-jul 2022. That timeframe matches a demerara shallower (40-45 days) drill than corentyne. It would also mean cgx got an extension on demerara. Don't put much value on this Maersk info but it is what it is. Lastly, it appears CGX cut the line on Shell Trinidad's drlg contract with Maersk Discoverer. This may have already been discussed but how did that happen? Is Shell our sugar daddy?

[waitingstill]

Are  you sure CGX cut Shell's line? I think it was the opposite. I think that CGX contracted Discoverer for one hole plus an option. After that, Shell contracted Discoverer. Then CGX took their option and was given the Jun-July 2022 date. But I am not sure.

[SportyJ]

WS, I see Maersk PR 2/12/2021 awarding Shell a contract for the Discoverer beginning 9/2021 through 2/2022. Awarding Cgx PR doesn't come until 4/21 or 22/2021 and mentions the demerara option well. News of cgx option excercise PR is on 8/30/2021 and it doesn't mention demerara by name. It does talk about the cgx option exercise as being a "direct continuation of the...contract with

[waitingstill]

Good pick ups. Seeing as Shell did not want the rig until Sept and CGX wanted to spud iin July, I wonder if Maersk arranged it? We will probably never know. But CGX needs to come clean on the D block. There is no way they can drill it before Feb 12 so what is happening. If they have an extension, they should NR it. Or at least update that they are re-negotiating it. Incredibly poor shareholder

[Dirksidetrack]

WS, Exxon Yellowtail development will include the drilling of 67 more wells comprising production, water injection and gas injection wells. They currently have six drilling rigs under contract - 4 from Noble, 2 from Stena.They'll start the development drilling campaign next year they say. Also Apache will probably start development drilling so they'll need rigs as will Chevron. Maersk, no

[SportyJ]

WS, Discoverer was drilling for BP in Trinidad, finished early and moved to Kawa (spud 8/22/2021). Point is Shell had that slot and "gave" it up to Cgx. Why? Why move to Guyana when Shell's drill(s) were right there in Trinidad? Could Shell have gained anything? I know the board frowns on speculation so my apologies.

[BlackGoldRefine]

He's always crowded the plate - way to brush him back.  This post made me smile