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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 Windyhillon Aug 16, 2021 7:14pm
253 Views
Post# 33714651

RE:On Location

RE:On Location

ljmorin wrote: I understand the Rig is on location.

 

ljmorin you are correct. Mersk Discoverer has arrived on location. Perhaps a couple of day to anchor and prepare to Spud. Waiting on support supply ships maybe?

one quick question for the board here.

Not much information has been released from Total and Apache on the location & coordinates of the Sapakara south well where they struck oil again. It would be interesting to see the coordinates of this well as it relates to our Kawa1.
Reading the Apache transcripts it appears that not much information has been released on this drill. Somehow it seems elusive. Does anyone here know the coordinates of the Sapakara SOUTH well?
any comments would be appreciative.

John Christmann -- Chief Executive Officer and President

No, Doug, I appreciate the question. I mean we are in the middle of the appraisal. And as we said, we have not flow tested Sapakara South. Unfortunately, just to clarify, the testing equipment on the Valiant is damaged, and that's why.

Otherwise, we'd be flow testing that thing now. But it's going to take some time to repair that equipment, and that's why the ship is going to sail on up to Bonboni and get on to the exploration well that we're excited about. But we need flow tests there, and we're in the middle of appraisal. So we have not put out volumes yet.

I mean clearly, we're fine-tuning things and working with things. And we've talked about this being an important step toward potentially an FID, but it's just a little bit premature to get into areas and those things until we gather a lot more data, and we'll do that as we continue to appraise and analyze what we've collected. But we're clearly excited about it. Having 30 meters of one blocky sand that's full base, high quality is the type of thing that you can build around because you've got your H there, but there's a lot more to do here and a lot more to appraise.


 

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