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 Windyhillon Dec 24, 2019 6:48am

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Post# 30486813

In a World class Basin

XOM quote...Mako-1 encountered approximately 164 feet (50 meters) of a high-quality oil bearing sandstone reservoir. Mako-1, drilled in 5,315 feet (1,620 meters) of water, is located approximately six miles (10 kilometers) southeast of the Liza field, which began producing oil in December 2019.

“New discoveries in this world-class basin have the potential to support additional developments,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “Our proprietary full-wave seismic inversion technology continues to help us better define our discovered resource and move rapidly to the development phase.”

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WindyHill

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