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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 Oct 06, 2021 7:53am
157 Views
Post# 33972460

RE:RE:Share rights

RE:RE:Share rightsYup it's got a 15,000 psi BOP. It can handle pressure. Problem on Jaguar wasn't the BOP. It was FIT of only 19.6 ppg. They encountered pore pressures that trended higher than that. They were considering running a liner and going with a higher density drilling mud. But at about 20 ppg barite for weight material based muds turns into tooth paste. You have to go with a hematite for weight material based mud. The mud contractor, MI, didn't have any hematite available in Trinidad and it would have taken weeks to get any. So they abandoned the well. It's all in Repsol's pdf that I posted before.

So yeah Discoverer can handle it as could Atwood Beacon on Jaguar1. It goes beyond rig capabilities though.

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