PM Hinds looks forward to CGX exploration results
This does not sound like Guyana is about to rescind the PPL.
Source:
https://ncnguyana.com/ncngy/index.php/local/local-news/regional-development/1585-cgx-to-invest-further-92m-in-two-offshore-wells-in-guyana-new-canadian-high-commissioner-announces-at-welcome-reception
New Canadian High Commissioner to Guyana David Devine this evening disclosed that CGX Energy Inc. has announced financing of an additional $92 million for its share of expected costs for two offshore wells in Guyana - Jaguar-1 in which it has a 25% interest and also for the exploration of Eagle-1 on its 100% owned Corentyne Licence.
The High Commissioner was at the time speaking at a welcome reception at his residence, Bel Air Gardens where Prime Minister Samuel Hinds and members of the Cabinet, the diplomatic community and heads of foreign agencies were present. “Guyana is on the verge of changes that are also more profound than any that have occurred before and even more so the discovery of oil and gas and gold mines,” High Commissioner Devine said. The partnerships between Canadian and Guyanese oil and gas service companies, he said, will not only see the transfer of expertise, capital and innovation into the economy of Guyana but, also enhanced trade links which will ensure that the economic relationship between Canada and Guyana continues to expand.
CGX has invested close to $100 M over the last decade in building infrastructure, doing exploration and development and leading oil exploration opportunities in Guyana, the High Commissioner said.
“We are hopeful that this dedicated partnership with Guyana will start to reap benefits for both in the near future,” Mr Devine stated. Prime Minister Hinds in his address to the gathering said that Government will continue to work on further strengthening the substantial relation that the two countries share.
“It’s a pleasure for me to extend a warm welcome to the new Canadian High Commissioner on behalf of myself and the Government and people of Guyana,” Prime Minister Hinds said. He also used the occasion to highlight some many successful partnerships between the Governments of Guyana and Canada.
“We had a good relationship in the area of mining…and we look forward to the new mining agreement that was recently signed and the oil exploration by CGX,” Prime Minister Hinds said. High Commissioner Devine in further expounding on the bilateral ties that the two countries share said that Canada and Guyana have always had a strong and sustained relationship, to the point where the relationship has now reached a level of maturity, which permits both countries to take advantage of their respective strengths and “help each other find new ways to grow and prosper in an ever more competitive world. That is the challenge which we have set out for ourselves and I am confident it will be met”.
He also said that Canada and Guyana have many similarities with their abundant resources and past and present societal conditions.
In addition, he said that the connections between the two countries are evident in every day connections through family ties, education and employment in almost every facet of Guyanese life and that the success Guyana is the Success of Canada.
“The future is now in our hands and we must work together to ensure that future generations have a solid foundation on which to build. I am optimistic about the future and we know it can be successfully accomplished. We have seen it happened. Canada will do its utmost to make that a reality as a long-term partner and friend of Guyana,” High Commissioner Devine said. Also present at the reception was heads of Government Agencies and Ministries, including Minister of Foreign Affairs Carolyn Rodrigues-Birkett, Minister of Agriculture Robert Persaud and Minister of Tourism Industry and Commerce Manniram Prashad.