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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

Post by JJJRRRon Aug 20, 2021 1:56pm
284 Views
Post# 33740565

Patience!

Patience!<div> GUYANA</div> <div> Exciting exploration opportunities</div> <div> Frontera, through its majority-owned subsidiary and joint venture partner CGX, plans to spud the Kawa-1 exploration well by the end of August, 2021 and will target Campanian and Santonian zones.</div> <div> Additional prospects and leads on the block have been identified and are being matured by the Joint Venture.</div> <div> Over 1.4 million gross acres in one of the hottest offshore exploration basin in the world.</div> <div> Independent external qualified resource evaluation, prepared as of August 31, 2020, identified 27 prospects in the Corentyne block and 5 prospects in the Demerara block. (1)</div> <div> Frontera&rsquo;s consolidated interest (82.6%) is equivalent to a mean volume prospective resources of 6,089 MMboe unrisked and 1,090 MMboe risked (4) . The fluid content considered for the prospects is mainly oil (64%), natural gas (28%) and the remainder condensate (8%).</div>
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