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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 Sep 25, 2021 4:59pm
143 Views
Post# 33919671

RE:RE:RE:RE:I guessed right!

RE:RE:RE:RE:I guessed right!Lol, Well I'm not so smart. I'll defer to OCM on timing since he has lots of West Africa experience and both West Africa and Guyana were once joined and part of an inland sea on the super-continent Pangaea. Just like the reef structures in Central Alberta were another inland sea about 300 million years ago located near the equator.

If you google "29 October 2013 OQPC it will display a pdf download. Download it. That's Repsol Jaguar actual well lithology and progress. On page 14, if memory serves, titled "Logging Inventory" it shows progress or days on well vs. depth. Beside it you will see actual lithology.

You'll see geoligical rock symbols. Google geological rock symbols. Sandstones are yellow with dots in them. I believe that Campanian and Santonian, that CGX is after, are sandstones. You'll see the ages listed there. They have drilled into the late or upper Cretaceous.The first significant sand on Repsol is found at about 14,000 feet but confirm that yourself from the info that I have provided above. That may be the Campanian.

Correlate that with days on well or actual progress beside the lithology column. I subtracted 40% because CGX has already learned how to drill these wells. But ask OCM what he thinks it will take to get to those yellow areas with dots (sandstones) from where we are now. I believe Campanian in about two weeks. Then drilling really slows down because limestone and dolomite get really hard and slow drilling the deeper that you go from my experience. Check out the geological rock symbols on google and match to Repsol well. Dolomite and chert are hard as hell and eats up drill bits. Slow drill rate and lots of time tripping to change bits. Hope this helps.

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