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 Feb 13, 2012 6:48pm

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Post# 19528242

COBALT-Oil like water offshore West Africa

Cobalt:Angola pre-salt oil test beats expectationinShare

Fri Feb 10, 2012 7:13am EST

*Cobalt Says Cameia-1 well could produce over 20,000 barrels/day

* To start appraisal drilling programme immediately

Feb 10 (Reuters) - Cobalt International Energy Inc said results from tests at a deep sea oil well off the coast of Angola had exceeded expectations and increased the company's confidence in its West African pre-salt exploration prospects.

Cobalt, whose main stakeholder is Goldman Sachs, said in a statement tests at its Cameia-1 well in Block 21 confirmed the presence of a 1,180 foot "gross continuous oil column."

"Cameia is an extraordinary success. The r

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