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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 kentoon Mar 16, 2012 6:56am
638 Views
Post# 19679352

Tullow Again

Tullow Again
Enyenra-4A appraisal well successful16 March 2012 - Tullow Oil plc (Tullow) announces that the Enyenra-4A appraisal well, in the Deepwater Tano licence offshore Ghana, has successfully encountered oil in very good quality sandstone reservoirs. Good evidence of communication with the Owo-1 discovery wells and the Enyenra appraisal wells confirms the significant extent of the Enyenra light oil field.Located just under seven kilometres south west of Enyenra-2A and almost 21km south of the Enyenra-3A well which defined the northern end of the Enyenra oil field, the Enyenra-4A well was drilled to define the southern extent of the field.  Results of drilling, wireline logs, samples of reservoir fluids and pressure data show that Enyenra-4A has intersected 32 metres of net oil pay. Pressure data from the oil leg has demonstrated that the oil is in static communication with the oil seen in the other wells in the field and indicates a continuous oil column of approximately 600m. The Ocean Olympia drillship drilled Enyenra-4A to a total depth of 4,174 metres in water depths of 1,878 metres. Wireline logging has been completed and injectivity tests are under way to provide important data for the design of the water injection system. On completion of operations, the well will be suspended for later use. The drillship will return at a later date to the Deepwater Tano block to perform a drill stem test on the oil zone in the Ntomme-2A well.600m x 21 Km ? This is massiveTullow (49.95%) operates the Deepwater Tano licence and is partnered by Kosmos Energy (18.00%), Anadarko Petroleum (18.00%), Sabre (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest). Commenting today, Angus McCoss, Exploration Director, said:"This bold step out is an excellent result which is further enhanced by the quality and thickness of the reservoirs found at this downdip location.  Proving a 600m oil column over a distance of 21km with three appraisal wells is a significant achievement which was only possible through the use of highly refined geophysical techniques. The appraisal of the Enyenra field will now continue with the monitoring of the pressure gauges deployed in several wells to determine the level of dynamic connectivity within the system and to further refine the estimates of oil in place."
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