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 > Spud

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Comment by Dirksidetrackon Aug 29, 2021 7:54pm

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Post# 33780115

RE:RE:RE:RE:RE:RE:RE:RE:Spud

Hey waitingstill, Do you have any numbers on the E&P (exploration and production) costs? If they hit oil and test the well cost could be upwards of 80 million. Sounds like a lot but if they find say 300 million barrels then that's about 8/30ths of a dollar per barrel or about 27 cents per barrel. I have no idea of production costs including tax royalties. I wonder what Exxon/Hess/CNOOC are paying. The reason I ask is that there was a comment that the oil is worth $2 per barrel in the ground. That sounds way low.

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