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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

Comment by jtddon Feb 20, 2021 3:02pm
234 Views
Post# 32619377

RE:DEMERARA PROSPECT

RE:DEMERARA PROSPECT

Hi OIL_RUN,
 

Both the Santonian and Campanian play types have been de-risked with further upside expected in deeper Turonian and Albian and Aptian play types (per recent comments from Apache)."

Do you think CGX will drill down into the deeper layers because they only mention as deep as the Santonian (which is in the upper Cretaceous, not the lower Cretaceous, like the Albion and Aptian)?

 

Also, the resource does not speak of a large target in the Demerara, does it?  You mention deep water, do you know the depth of water at the Makarapan-1 site?  Where did you see the drill depth of 12000?  The santonian is usually around 18000 ft down in the earth, no?

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