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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 OIL_RUNon Jun 08, 2012 12:35am
565 Views
Post# 19992031

JUNE-08-2012: ANADARKO IN TALKS OVER ACCESS TO ACR

JUNE-08-2012: ANADARKO IN TALKS OVER ACCESS TO ACR

This came from the upstream newspaper June 8, 2012..

 

 

ANADARKO IN TALKS OVER ACCESS TO ACREAGE OFFSHROE GUYANA

Anadarko is in talks with energy officials in Guyana for access to offshore acreage, according to sources, writes Tom Darin Liskey.  Talks for one or more blocks in the former British colony are understood to be advancing.

 

If the US company secures access to acreage in the Guyana-Suriname Basin, industry sources said, Anadarko would be able to take its expertise acquired in Brazil and Africa to the play.  Companies such as Anadarko, which are partners with Petrobras, have so far been focusing on pre-salt reservoirs in Brazil.  But Brazil is also host to the exciting post-salt Albian trend.

 

The Albian fairway in Brazil has yielded some of OGX's most exciting discoveries in the Campos basin.  Source believe offshore Guyana may hold similar reservoirs, though the recent well spud in that nation, such as CGX Energy's Eagle-1 well in the Corentne License, ace come up dry.

 

Anadarko and other companies are turning their focus to Guyana, one of the Western Hemispheres' poorest nations, as it presses ahead with its petition with the United Nations commission to extend it continental shelf by a further 150 nautical miles (277.8 kilometers) from the current 200 nautical mile limit.  Venezuela, which claims about 159,000 square kilometers of Essequibo - a lightly populated region that covers almost half of Guyana - may protest the move.

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