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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
Comment by OIL_RUNon Jun 08, 2012 1:16am
445 Views
Post# 19992090

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

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

Certainly seems there are more and more companies becoming interested in the Guyana-Suriname basin.  Over the past year Kosmos, Murphy, Statoil, (and now potentially Anadarko) have picked up offshore acreage positions on the Western side of the Demera Plateau (Guyana / Suriname).  And, in some cases, paying over $100M for certain blocks (with little to no seismic). 

 

Review the recent comments from Murphy Oil's CEO on May 8: "Suriname, for some strange reason, is the pretty darn hot block, and we've got a lot of people knocking at the door, and we haven't even got the full data done yet." ...   Positive right?

 

Moreover, look at Exxon and Shell - even they are starting to advance their Stabroek block offshore Guyana... even in the mdist of a border dispute...

Bullboard Posts