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 > 11:11

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Comment by oldcompanymanon Nov 11, 2021 9:47pm

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Post# 34117919

RE:RE:RE:RE:RE:11:11

Hi Goldrush,

It depends a lot on the locally available resources but 60-80 million bbl already justifies standalone projects in a more developed basin like the North Sea or the GoM in this kind of water depths. Add a bit more for a less densely populated (from an infrastructure perspective) oil province like Guyana, probably anything above 120-150 million bbl would justify it.

I stepped a bit out of my specialty here but these are the numbers I've seen around.

GLTA,

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