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 mark92on Feb 08, 2012 6:14am

617 Views

Post# 19503485

RE: Kaleidoscope 3D Oil - one good reason to have

Thanks Misfit...

Now i understand better what Kerry Sully said back in 2009 :

"President and Chief Executive Officer of CGX, Kerry Sully, told this publication yesterday that Suriname’s removal of CGX’s oil rig in 2000 during a Guyana/Suriname Border dispute “might have been a blessing in disguise.”

He said that if Suriname did not halt the oil exploration in 2000 it was quite likely that his company would have missed the new target at the new depth.

“It’s quite likely that we would have missed the target as we would have been focussed on the tertiary 1300 foot level.”

https://www.cgxenergy.ca/News_May15_2009_Stabroek1.html

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