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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 simonx72on Oct 08, 2021 1:41pm
220 Views
Post# 33989558

RE:AVO comparison to HAIMARA Results

RE:AVO comparison to HAIMARA Results

"The well encountered 243 feet (74 meters) of net pay in high quality hydrocarbon bearing sandstone reservoirs of which 102 feet (31 meters) is oil bearing"

The implication is that Cataback is more than 50% gas.
(This is from the recent release on the Cataback discovery which is closer to the Liza type oil discoveries than Kawa).

Since Kawa is much closer to Haimaira which is a gas condensate discovery, I think the risk here is a gas or gas condensate structure even if the target is deeper Santonian.

Im no geologist but that's my lay interpretation. I will defer to the experts.

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