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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Post by mark92on May 12, 2012 5:02am

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Post# 19902079

Suriname investing US$30M to boost oil search

The Search goes on...

Suriname investing US$30M to boost oil search

"Suriname will be investing US$30M over the next four months in a search for new oil fields along the coast. The exploration by Staatsolie started on May 1. This is the first time the state-owned oil company has taken the initiative to invest its own funds in 2D and 3D seismic exploration.

“It is not just a gamble, but a calculated move,” Patrick Brunings, Manager of Staatsolie subsidiary Paradise Oil Company (POC), told de Ware Tijd. POC will carry out the project."

https://bis.gy/2012/05/suriname-investing-us30m-to-boost-oil-search/

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