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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 SportyJon Nov 22, 2021 2:19pm
306 Views
Post# 34153876

RE:So let's look at this

RE:So let's look at thisA rig mob (mobilization) is typically in the drlg K. Cgx prob paid for the rig to move in and once released by Cgx the Trinidad operator pays the rig to move (Rig Mob) to its well. Only time the driller is paying is when it doesn't have a "next" well lined up. This is Cgx's operation from rig mob thru spud thru rig release. Maersk is just a hired contractor, although a very important one.
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