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 > Demerara maybe off the table.

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Post by SheDrillson Nov 07, 2021 7:58pm

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Post# 34098094

Demerara maybe off the table.

Based on the current Maerk drilling fleet forecast seems Demerara is off the table.

https://cdn.maerskdrilling.com/media/2152/fleet-status-report-november-2021.pdf

Thr only way they manage to spud the license before the exploration date is if they are already in discussion for another rig or to farmdown to a partner who can mobilize a rig by Feb. 12, 2022.

Guyana government already starting to chatter about a Q3 2022 lease round for relinquished acreaged...I don't believe CGX Energy will get any further extensions.

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