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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. It is focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana. The Company, through one of its subsidiaries, holds an interest in a Petroleum Prospecting Licence (PPL) and related Petroleum Agreement (PA) on the Corentyne block in the Guyana Basin, offshore Guyana. The Company, through its subsidiary Grand Canal Industrial Estates, is constructing the Berbice Deep Water Port. This facility, located on the eastern bank of the Berbice River, adjacent to and north of Crab Island in Region 6, Guyana, is being constructed on 30 acres with 400 m of river frontage. Its subsidiaries include CGX Resources Inc., GCIE Holdings Limited and CGX Energy Management Corp. It is the operator of the Corentyne block and holds a 27.48% working interest. Its Wei-1 exploration well is located west of the Kawa-1 discovery in the northern region of the Corentyne block.


TSXV:OYL - Post by User

Bullboard Posts
Post by simonx72on Nov 21, 2009 1:31pm
507 Views
Post# 16510837

delay

delayJagdeo's frustration validates my belief that drilling will be further delayed.We will probably hear that shortly.

With regards to gas/oil,I believe they are using Rock Solid Images to determine the pore content of especially the deeper structures,whether gas or oil.If Rock Solids feels Eagle Deep is gas,and Eagle is oil they may not drill the deeper structures.

That is what Rock Solid does,it tries to determine what lies in the pore space and reduce risk of drilling a gas reservoir,or deep underground fresh water lake.They have had good success offshore West africa and Ghana,but they also are not perfect ,as the water logged well off the Ivory caost drilled by Anadarko recently proves.
Bullboard Posts