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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 oldcompanymanon Oct 14, 2021 8:23pm
254 Views
Post# 34007534

RE:RE:RE:RE:dragonfly454 - question for you

RE:RE:RE:RE:dragonfly454 - question for youJust to complete on this one, I spent a whole hour today discussing this very subject with a drilling superintendent that I highly regard, who has a strong engineering background (I learned my trade on the rigfloor and am not degree-educated).

The plan (or, say, what we as a community have so far inferred that CGX has as a plan) with drilling in the first reservoir with a 12-1/4" to then case this particular zone and move on to the following 2 zones that are deeper makes sense to him. In particular, he suspects that on these kinds of depth intervals (we as a community here seem to be thinking that some 1,000m separate these layers), even on a normally-pressured environment the risks of having crosssflows or simultaneous kick and loss scenarios would justify proceeding in this way. Given that the 14" will in all likelihood hold full displacement to gas from this first layer, this is the most reasonable think to do in order to split the sections.

The implication is what I had stated at the bottom of this previous post; we should not be surprised if they drill through the first target reservoir within the next 10-12 days.

A last point he added, that I am repeating under the authority of the geoscience personnel on this board: "given everything you're telling me about the well, it seems nearly impossible that this well be HPHT, even in the deeper zones. It should be a "reasonably normal" subsea exploration well to drill and I consider a technical success likely within the stated timeframe".

GLTA,
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