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 OIL_RUNon Nov 14, 2012 2:29am

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Post# 20597000

NOV-14-2012: TULLOW MANAGEMENT STATEMENT

Looks like all eyes are are on the Georgetown license re-issue.

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TULLOW INTERIM MANAGEMENT STATEMENT

Nov-14-2012

In July 2012, the high-pressure, high-temperature Jaguar-1 well offshore Guyana was plugged and abandoned at a depth of 4,876 metres, without reaching the primary objective after encountering unusually high pressures. An extensive review of both the Jaguar prospect and well designs has been carried out and the Georgetown Joint Venture, including Tullow, is currently in discussions with the government of Guyana over the re-issuing of the licence once it expires later this year.

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