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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 Jul 16, 2012 9:17am
631 Views
Post# 20116332

CAMPANIAN

CAMPANIAN

While the Jaguar-1 did not reach its primary target, Turonian basin floor fan, it certainly seems we have hit several fans containing light oil higher up in the well.  Cough... Cough... CAMPANIAN...

 

I certainly think this is very positive and look forward to having some numbers assigned to those 'higher targets' - at least to those targets that reside in the Corentyne Block. 

 

Reading the Tullow statement - they also indicate having recovered light oil from these intervals as well.  Note, if these intervals were water beaing - would believe Tullow would have certainly reported that information.  I have followed Tullow for more than 4 years now and they have always been ultra conservative with their news releases and report information as a 'matter of fact'. 

 

Moving forward, I have my calander marked for the Tullow conference call - July 25, 2012.  They will certainly provide some type of clarity as to what their future plans are with the Georgetown Block. 

Bullboard Posts