CGX Energy Inc V.OYL

No reason to panic regarding "demob"

[oldcompanyman]

Folks,

The maritime authorities of every country releases NTMs on a regular basis for maritime activities happening within their EEZ; it does not mean anything specific regarding what is happening on that particular rig, it is just a notice to mariners so that they know there is still a structure (i.e. rig) in the area, with supply vessels around etc. The OIM, barge master and myself receive regularly these notices on our rig, it is part of the stream of information you receive so that you know what is happening around you but unfortunately the wording does not always reflect what is happening on the rig. To me it looks like the harbour master had to put something in there ans dais "demobilization sounds OK at that stage".

Their previous NTM was issued early July stating that exploration drilling activities were commencing on the block, despite the fact that the rig hasn't arrived until mid-August. Simply, the maritime authorities did not check with the operator (i.e. CGX) before issuing the notice, they took as a basis the date that was on the drilling permitting application (that the operator needs to put in several months in advance).

In short, no need to panic or think about anything operational; this will not be the first NTM disconnected from what's happening out there.

In fact, legally speaking they should've published that NTM on the 15th of Dec because their last NTM regarding Kawa was mentioning end of operations on that date and they left 11 days of "incorrect" status on a part of their EEZ. It's just an administration not doing their job properly, no worries.

GLTA,

[Gtboy]

Thanks OCM, I do pray and hope that you are right.  thsi may have a negative affect on the market if we do not hear anything before trading is opened o Tuesday. GLTA 

[dragonfly454]

Thanks OCM ...well let's hope the 2022 date was a typo and the borehole doesn't go to Sydney harbour ..couple of things would happen then ..the Atlantic would drain into the opera house .. Kookaburras might come through the wormhole..CGX would have onshore targets ..there was a a strange vessel out there though .. Polaris....if all the money this company spent on wells was converted to

[down_inGT]

If uou go on MARAD site, you will see all the maritime notice conclude on the 31st of Dec 2021, dosen't meanCGX will be done on that date, new updates start in 2022. GLTA