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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 oldcompanymanon Nov 17, 2021 9:04am
214 Views
Post# 34135364

RE:RE:OCM

RE:RE:OCMHi again, Blinded by the word "ascertain", I might have missed the gist of your message...

Probably the more relevant answer you are looking for is that one:

An exploration well encountering (several) hydrocarbon bearing formations with flow potential (but regardless of commercial quantities being in place) would take, as a general indication, longer to drill than the very same well going through layers of the same hardness etc that would not hold hydrocarbons in place, due to many points related to pressure management, gas levels management, potentially wellbore stability issues, loss/kick issues etc. It is not to say that none of these issues exist in dryholes, they do exist but as a general rule HC-bearing formations will give you more (and a combination) of these points and as a consequence you will be slowed down.

GLTA,
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