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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 21, 2021 11:03am
187 Views
Post# 34032584

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

RE:RE:RE:RE:RE:RE:Wouldn’t they already know results from primary target now?First off I am no geologist so this is pure 100% amateur speculation. The original sequence was Campanian, Santonian, Santonian. Why two stacked Santonians? Reading about the basin's geology from stuff that I have posted before, there can be two formations that was at one time just one formation because of a type of fault called a Listric Fault which usually occurs in canyons.

So now we have Campanian, Santonian missing one Santonian but in the same sequence. So what may be happening is the deeper block of rock on one side of the fault is lower than prognosed. The third Santonian may still be there but they will evaluate whether to drill it or not which is why they've programmed 2 continguency casing strings.

So I read it 2 targets for sure, maybe 3. Remember that Exxon didn't drill the deep Santonian until later on Liza called deep Liza which contains an additional 150 million barrels of oil. The same may be happening here. Dragonfly care to comment?

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