CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc

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Comment by kentoon Nov 12, 2011 2:12pm

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Post# 19232377

RE: RE: ATWOOD BEACON UPDATE

You have hit the nail on the head Deepthink.In the Drilling Business, it is a custom of the TRADE that if an operator makes a discovery ,that they be allowed to keep the Rig to do further testing as necessary. No legal action can be taken against INPEX or the owners of Atwood Beacon .If the Rig is indeed delayed until December, it is fair to speculate that INPEX has made a DISCOVERY.

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