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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 Ermospon Oct 15, 2021 5:00pm
182 Views
Post# 34012095

RE:RE:Kawa-1. What is a good result?

RE:RE:Kawa-1. What is a good result?

Where are you pulling 60% chance for a duster from? The McDaniel report had a 51% CoS at highest for all prospects CGX has, and I would guess Kawa is targetting something close to that.

furthermore there's 3 targets, which the geo's here say are uncorrelated. So even if we gave 50% to primary target and just 20% to other 2, we get to about a 2/3 shot of success.
 

Certainly could still end up dry, but the odds are reported better than 40%.

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