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 > A couple questions.

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Comment by westcanprideon Jun 23, 2021 9:41am

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Post# 33433625

RE:A couple questions.

Hi IceDog,
On the CGX webiste, the seismic shows some great prospects (as others have mentioned). Using basic oil in place calculations and assumptions (based on literarture and offset discoveries), its fair to suggest Kawa could have between 400-750 million barrels of oil in place within a single reservoir horizon. Using Suriname and Pluma/Haimara as a comparable, there could be up two horizons with 500 million barrels of oil (or condensate) in each layer. Using a 20% recovery factor, that provides between 80-150 million barrels of recoverable oil for each horizon or between 160-300 million barrels total. Pretty fantastic.

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