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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 15, 2021 10:10pm
165 Views
Post# 34012777

RE:RE:RE:To reduce drilling on such LSG .integrated evaluation approa

RE:RE:RE:To reduce drilling on such LSG .integrated evaluation approaSo low saturation means mostly liquid or in thermodynamic terms the quality is low. Quality being defined as mass fraction of a saturated mixture that is vapor?

If that's true then your saying that because it's mostly liquid then that it is unlikely that whatever contained the pressure ruptured so the fluid in the reservoir did not flash or fizz into vapor?

The Bayesian stuff is inferential statistics but easy to explain as well by noting that it can be thought of as a kind of aggregate probability model like if the streets are wet, there's puddles in the street, people are carrying umbrellas then it probably rained.

So applied to our situation because seismic shows low saturation gas (meaning it's mostly liquid) and geological lithology info indicates a seal and also porous, permeable reservoir rock then it's greater than 35% that the liquid picked up by seismic is hydrocarbons. Is that about right or am I not understanding correctly?

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