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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
Comment by OIL_RUNon Mar 01, 2012 1:14pm
539 Views
Post# 19611923

RE: Hyperdynamics

RE: Hyperdynamics

simonx72 - great post and observations.

I spent several hours the past week looking through the Hyperdynamics finance.yahoo Message Boards - which has been a great source of additional information as it relates to the "trans-antlantic margin". Again, the Hyperdynamics message board would be relevant to CGX shareholders as it would appear CGX acreage could be the direct conjugate of Hyperdynamics acreage.

Note - the information on the Hyperdynamics finance.yahoo Message Boards has to be taken with a grain of salt.

I literally copied and pasted the below information from the Hyperdynamics message board which seems to be in favor of CGX's acreage along Guyana. I would recommend for CGX shareholder to take a look at this message board when they get a chance....interesting stuff.

"The tectonic events of the Demarara Rise and Guinea Plateau which separated 120-110 million years ago during the Barremian and Aptian. In theory, most of the rift basins went with the South American plate, so the majority of syn-rift sediments are now off Guyana, Suriname, and French Guiana. Deepwater Guinea, as well as deepwater Sierra Leone, Liberia, Cote d’Ivoire and Ghana, subsequently accumulated a sequence of upper Albian, Cenomanian and Turonian source rocks. After Upper Cretaceous sands had been deposited in turbidite fans, Tertiary loading pushed the Albian-Cenomanian-Turonian source rocks into the oil window. It is these source rocks that generated the oil found in Jubliee, Narina, Mercury and Jupiter. The deepwater part of the Guinea block where the new 3D survey has been shot is analogous to the area where Tullow discovered the Zaedyus field (700 MMBO) last year. In both cases the source basin lies in an angle between the coast-parallel shelf margin and the plateau that is at about 120 degrees to the coast: in Africa it’s the Guinea plateau, in South America it’s the Demarara Rise. Wells drilled on top of the Demarara Rise only had shows. You can see this on the CGX website (https://cgxenergy.ca/At-A-Glance.aspx)"

Also,

"The oil that was being sourced has long since migrated updip along planes at the unconformity surfaces and earlier in time before the structural deformation that created the 3-way and/or 4-way closures of the [HDY's ]Sabu and Baraka structures on this part of the continental shelf offshore Guinea. This timing of the migratory history would predate the formation of these structures and they would never had been filled to their "spill point" nor would they have acted as traps for the hydrocarbons since they would not have formed at this time. These structures post-date the migration of any hydrocarbons out of the basin and this part of the basin would have been attached as the southern part of the Demerara Plateau that is today attached to the South American Plate as part of the Suriname Basin lying offshore those three countries on the northeastern coast of South America where companies like Tullow Oil, Repsol, INPEX, Noble and Murphy Oil are exploring.

Bullboard Posts