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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Post by kentoon Dec 14, 2011 9:56am

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Post# 19320660

CONFIDENCE IN THE BASIN

HAS INPEX MADE A HIT ?
The level of confidence shown by Kosmos and Murphy on the Suriname side of the Border without even 2D and 3D seismic and their commitment to spend $150m has shown a high level of confidence on that side of the Border despite the 3 successive dry holes by Repsol and Murphy respectively.
If Inpex was also a dry hole , they may not have been so eager to sign up so quickly and agree to spend such large sums of money.

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