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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 catkinon Feb 09, 2012 12:56pm
573 Views
Post# 19510137

jaguar timeframe

jaguar timeframe

As I see it Jaguar will be drilled to 6500 metres. Assuming a 100 metre a day average for drilling it would take 65 days to reach target depth. At that time there would be two possible scenarios i.e. announce that they have a struck a "duster" or that they have struck oil and will be performing tests.

If they intersect oil there will be a period of time to perform tests and analize the results prior to a full disclosure of the find. This could take us to the 180 day period. But if this is the case, there would inevitably be some disclosure of the find on or prior to reaching total depth.

To me this means that, in any event, we should get some news much prior to the 180 day forecast.

Roll on April 19th.

Bullboard Posts