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 OIL_RUNon Apr 06, 2012 2:50pm

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Post# 19767250

RE: RE: RE: Stephen Hermeston - Description of the

Simonx72 - you are correct. Stephen did say that if a discovery was made in the Eocene they would not continue drilling into the Maastrichtian.

Also, Stephen did say that if a discovery was made in Eagle Shallow (either Maastrichtian or Eocene) - the lower intervals would also be included in the 20 year production license - even though the well did not penetrate the lower intervals (i.e. Campanian, Turonian, etc).

Going back to the earlier statement "promising samples" - this could have been in reference to the Oligocene as well. Who know - we wait this one out...

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