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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 Feb 22, 2010 12:41pm
776 Views
Post# 16806942

update

update

Back from Guyana,learned a lot.

1.Planning ongoing for the wharf,will take 6+ mths to build and they have not started .So we are looking at very late 2010

2.10-12 companies passing through data room,including 4 supermajors...exxon,shell,bp and total

3.they were in london recently to talk to tullow...??favorite???

4.a current player in guyana is least favored...cant say who

5.jv partner end march,early april

6.exxon may drill the deep water block in 2011 on 2D alone.apparently shell is bringing a rig to french guiana then brazil,so maybe they said lets use the same rig to drill guyana same time, even without 3D
7.everyone i spoke to is bullish about the oil prospects,heard that a petroleum geologist from a potential jv partner was pretty impressed
8.shell was impressed with the data room but felt the reserves were lower than what cgx thinks
9.murphy will drill 2 wells in late 2010..they are also liked by cgx.
10.2 rigs will enter basin,1 for suriname 1 for guyana...tentative plan

i liked the regular banks beer,not the premium beer!

Bullboard Posts