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 simonx72on Jan 18, 2012 10:51am

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Post# 19416683

RE: RE: RE: RE: Jaguar to Spud Febuary 1st +/-

I however suspect CGX would want to start drilling immediately on arrival of the Saratoga, this normally pressured Eagle shallow well.The rig costs 282K /day and CGX does not have deep pockets like Repsol...unless they get a JV.

I also believe part of the straegy for not drilling Eagle Deep right now,is to learn from Jaguar and also because the optimum drill locations for the shallow and deep wells are different:so 2 entirely different wells. Eagle shallow will not be deepened to go after Eagle Deep (Saratoga is not a HPHT rig anyway)

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