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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 kentoon Nov 22, 2011 3:27pm
534 Views
Post# 19258594

ALL ON BOARD

ALL ON BOARD
he Editor
Canada petroleum agency commits to sharing expertise with local bodies
By Stabroek staff | /www.stabroeknews.com/?p=157820"> https://www.stabroeknews.com/?p=157820" href="https://www.stabroeknews.com/2011/news/stories/11/22/canada-petroleum-agency-commits-to-sharing-expertise-with-local-bodies/#disqus_thread">6 Comments | Local | Tuesday, November 22, 2011


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TheCanada Newfoundland and Labrador Offshore petroleum board (C-NLOPB) hasgiven its commitment to working with the authorities here if oil andgas exploration prospects are realized in the future.
Yesterdaystakeholders from various sector agencies were exposed to the expertiseof the C-NLOPB at a half-day workshop at the Pegasus Hotel in the city.
Chairman and CEO of the petroleum board,Max Ruelokke, told this newspaper yesterday that the organisation whichacts as a watchdog for that country’s oil and gas sector, believe thatthere is a good knowledge base and institutional organisation of thelocal regulatory bodies which overlook the sector.
He said while hehas not been able to interact with the key players of the localorganisations, he was impressed with he has learnt so far about theregulatory bodies.
He said the C-NLOPB was expected to meet President Bharrat Jagdeo and other government officials relevant to the sector.
Accordingto him the organisation is ready to provide support and advice asnecessary to the government as regards management of the sector.
Thiscan be fulfilled via an exchange of training programmes, where personscan travel to Canada from Guyana or conversely the petroleum body wouldbe able to send an expert to work with the government and providerelevant support.
Ruelokke said the prospects of the sector hereappear bright, as he has seen results of United States sanctiongeological surveys which indicate that in the Suriname/ Guyana basinthere might be some 40 trillion cubic feet of gas as well as 15 billionbarrels of oil, a figure which he noted is much higher than Canada’spetroleum industry.
He said C-NLOPB is a member of a body calledthe International Regulatory Forum (IRF) , which works closely withmembers on projects within the sector and according to him the body hashad considerable experience working with the sector agencies incountries across the world.
Yesterday’s workshop was organised bythe Canadian High Commission and it was aimed at providing the localregulatory agencies, including the Guyana Geology and Mines Commission(GGMC), Guyana Energy Agency (GEA) and the Environ-mental ProtectionAgency (EPA) with first-hand knowledge of how the C-NLOPB manages thepetroleum sector in Canada.
Participants were exposed to studiesand findings undertaken by the petroleum board, its overall managementof the sector including areas of safety, environmental and re-sourcemanagement.

















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