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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 Dirksidetrackon Aug 27, 2021 12:07pm
249 Views
Post# 33775958

RE:RE:RE:RE:RE:Spud

RE:RE:RE:RE:RE:SpudNo need to explain oldcompanyman I know that you know mud weight means nothing. But others think it does. I was a mud engineer. I know that you can have an over-pressured shale that requires higher mud weights to keep it from spalling (sloughing) into the hole sticking your drill string. My reference to mud weight is from comments on the board that seem to think that if you have to raise mud weight above normally pressured 8.33 ppg plus trip margin then you must have hydrocarbons. You and I know that is BS. It probably means that you've got an overpressured shale that will stick your BHA in the hole that will cost you tens of millions in side track costs if you don't get it right. And if there's a cesium radioactive source in the BHA you can't just leave it there. You gotta fish it out in most countries. Huge money. But as you say the guys running the show will not let that happen. They'll raise mud weight knowing that the casing design is such that they won't fracture the casing shoe above them. All good Oldcompanyman, appreciate your comments.
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