Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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

Post by Devanand1on Dec 11, 2020 5:41am
177 Views
Post# 32086465

Petronas and ExxonMobil hit pay at Sloanea-1 offshore Surina

Petronas and ExxonMobil hit pay at Sloanea-1 offshore Surina

Petronas through its subsidiary, Petronas Suriname E&P B.V. (PSEPBV) announced Friday that it made its first discovery of hydrocarbon in Suriname with the successful drilling of the Sloanea-1 exploration well located in Block 52.

PSEPBV is the operator of Block 52 and holds 50 per cent participating interest, together with ExxonMobil Exploration and Production Suriname B.V. who holds the remaining 50 per cent.

Petronas Vice President of Exploration, Upstream, Emeliana Rice-Oxley said, “We are pleased with the positive results of the well. It will provide the drive for Petronas to continue exploring in Suriname, which is one of our focus basins in the Americas. We look forward to further successful collaboration with our partner ExxonMobil and further strengthen our relationship with the government of the Republic of Suriname, as a solutions partner, progressing towards delivering clean and reliable energy to the market.”

Tullow says Suriname well campaign on schedule for Q1 2021

Block 52, which covers an area of 4,749 km², is located north of the coast of Paramaribo, Suriname’s capital city and is situated within the prospective Suriname-Guyana basin, where several major hydrocarbon discoveries have been made. The Sloanea-1 exploration well was successfully drilled to a total depth of 4,780 metres using the Maersk Developer rig.

The Sloanea-1 exploration well encountered several hydrocarbon-bearing sandstone packages with good reservoir qualities in the Campanian section. The well data proves excellent calibration of the hydrocarbon potential of the block. Further evaluation is being undertaken to determine the full extent of the discovery.

Hess encouraged by Suriname oil strikes, says offshore potential significant

In addition to Block 52, PSEPBV also holds a 100 per cent participating interest and operatorship in Block 48, and a 30 per cent non-operated participating interest in Block 53.

The discovery at Sloanea-1 brings the total strikes offshore Suriname to 4 so far, with 3 already made at Apache’s Block 58.

<< Previous
Bullboard Posts
Next >>