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

Comment by Goldrush97on Jul 30, 2021 12:12am
248 Views
Post# 33630731

RE:RE:Sapakara South Well Block 58 NEW Discovery

RE:RE:Sapakara South Well Block 58 NEW DiscoveryIt was very interesting press release by Apache. I would add it was intentionally very vague and lack of information is quite disturbing. Hopefully they clear this up on their earnings call next week and someone can ask those questions highlighted above. I am particularly disappointed in Apache with regards to this press release. One would think they would learn from the alpine high fiasco but it sadly it dont look that way. With these 2 appraisal wells it is quite alarming that there is information about lower santonian level. Did they drill there and didnt encounter anything ? I would find it very strange that they would design a well and only drill the Campanian level when the initial wells encounter significant pay in the santonian. What is going on here ? Another point is drastic change in kwaskwasi well. The original well encounter a total of 278m of pay in various levels and the appraisal well find "2 thin intervals" of insignificant oil. This is total contrast to Exxon appraisal wells nearby. It is agreed the Suriname portion of basin is way more "gassy" than the Guyana section. Recent estimates peg the reserves so far at 30 tcf. All 4 of Apache and total wells encounter gas/condensates in Campanian. However these 2 appraisal wells there was no mention of gas/Condensates. Again this is very strange that the appraisal well didn't encounter any gas. Word on the street is that reservoir quality in Suriname portion is worse than the Guyana portion. I don't know whether this is true at this time. But the share price of Apache should be significantly higher with these Suriname discoveries. There is some overhang there. After all this is Apache and alpine high will not fade from people memory just like that.
<< Previous
Bullboard Posts
Next >>