CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > Wouldn’t they already know results from primary target now?

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Comment by oldcompanymanon Oct 21, 2021 7:28am

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Post# 34031336

RE:Wouldn’t they already know results from primary target now?

Hi Ermosp,

Given that they have run only 4 strings, they haven't yet drilled the first target; the 4th string is a 13-5/8" casing through which they will drill with a 12-1/4" bit (this is the operation that must be ongoing as of now) and this will be the diameter they will drill through the first target layer with.

Furthermore as per the depths announced (70% of planned TD) they haven't yet got to the first target.

GLTA,

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