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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 deepthinkon Nov 21, 2011 7:31pm
469 Views
Post# 19255880

Every day of delay is good for us

Every day of delay is good for usAlthough it is depressing to see the share price fall with the markets, my view is that every day's delay in an announcement from Inpex is probably good. No matter what benchmark of timing you assume, Inpex should be reaching TD, or should have reached TD already. My understanding is that the rig-sharing agreement allows Inpex up to two weeks to conduct testing. According to Hermeston, Inpex was very close to TD on Nov 10. We are now almost 12 days later. However, I am disappointed that we aren't hearing about a rig contract for Eagle shallow. Why isn't that happening?
Bullboard Posts