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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Comment by catkinon Feb 26, 2014 6:28pm

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Post# 22256094

RE:RE:RE:RE:RE:RE:news release

Waitingstill, PRE announced about a month ago that they were going to invest up to $140M into the Guyana basin this year, which includes some 3D scanning (costing roughly $12M). There is speculation that roughly $100 - $120M may be for CGX (their subsidiary) to drill CGX's commitment well on Corentyne. This is the pool of money that I refer too, and which could result in funding at least two wells, one in Corentyne and the other in Kanuku (Repsol permitting).

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