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 Japanophiliaon Apr 11, 2012 1:04pm

297 Views

Post# 19781092

RE: RE: 2D vs 3D

Did anyone post any links or have access to the results of the 3-D seismics for the prospects?

Not being familiar with petroleum geology, I have a simplistic visualization of a trap that looks like a mountain and we're drilling into its apex, since oil is less dense and floats upwards.

But, of course, it must be more complicated than this. Like many apices? If it is indeed so, then Repsol may drill more than once in the quest to find oil. Having JVed with them, it will cost OYL only $40M for each drill, a price that will not cause much dilution.

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Visionstate set to leverage success in the U.S. market