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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 Dirksidetrackon Sep 11, 2021 8:23am
333 Views
Post# 33844731

Jethro

JethroThis may explain the heavy oil in Jethro. Poor seal. Not water depth related. From Wikipedia: Most geologists agree that crude becomes heavy as a result of biodegradation, in which lighter oils are preferentially consumed by bacterial activity in the reservoir, leaving heavier hydrocarbons behind. This hypothesis leans heavily on the techniques of petroleum geochemistry. Poor geologic reservoir sealing exposes the hydrocarbons to surface contaminants, including organic life (such as bacteria) and contributes to this process.[citation needed] Heavy oil can be found in shallow, young reservoirs, with rocks from the Pleistocene, Pliocene, and Miocene[18] (younger than 25 million years). In some cases, it can also be found in older Cretaceous, Mississippian, and Devonian reservoirs. These reservoirs tend to be poorly sealed, resulting in heavy oil and oil-sands.[citation needed]
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