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 GA_Makemydayon May 09, 2012 2:07pm

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Post# 19890800

RE: RE: RE: RE: One well or two??

Zibo re: "Spudding ES was decided based on limited funds and meeting the requirements of the PPL, not on where the best drill location was."

Not sure I follow that line of reasoning. CGX info states that they have many prospective targets, so why would they have to stick to Eagle, if more recent seismic information presented better targets? Seems to me that they have always viewed Eagle as a very good prospect to strike oil.

Bullboard Posts

Advancing flagship Ishkõday Gold Project in Ontario