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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 SheDrillson Nov 02, 2021 7:59pm
172 Views
Post# 34079974

RE:RE:RE:RE:RE:RE:RE:RE:Kawa Well

RE:RE:RE:RE:RE:RE:RE:RE:Kawa WellAre you talking to me?  Yes I've been on a rig, so many I lost count.  I was 19 when I first worked on a rig during an internship and unfortunately that rig ultimately ended up at the bottom of the GOM (sober awakening). I ran LWD for the first 5 years of my career...land rigs, platform rigs, Jackup rigs and floaters. Then I was a drilling performance SME for 3 years and flew out to all the major Chevron Deepwater projects including in harsh conditions like GOM Deepwater, Orphan Basin and Brittania. I also designed and executed Deepwater wells in Australia and was on the rig floor for all critical operations because my name was on those well procedures and I'm OCD like that. Who spends a year planning a well not to be out there when it matters?  

Have YOU been on a rig? If so then you know that Deepwater exploration wells take time and almost always run long...especially when a company is drilling their first well in a decade.  I wish they could have hired away one of the XOM or APA drilling engineers to plan the well but even if they had, this well is still unique and will be facing unique challenges.  I do expect them to get it down.  One of my friends helped them source many of their consultants...that friend also bought stock pre-spud anticipating a good well outcome.
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