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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 23, 2021 2:05am
195 Views
Post# 34155693

RE:RE:O for

RE:RE:O forWS, I see Maersk PR 2/12/2021 awarding Shell a contract for the Discoverer beginning 9/2021 through 2/2022. Awarding Cgx PR doesn't come until 4/21 or 22/2021 and mentions the demerara option well. News of cgx option excercise PR is on 8/30/2021 and it doesn't mention demerara by name. It does talk about the cgx option exercise as being a "direct continuation of the...contract with Shell offshore Trinidad". Also find interesting that the option well will commence first half of 2022. That's anywhere from Jan to Jun. Based on Maersk I read it as Jun and it will be demerara. If Wei happens quick it will be with another rig imo. But again seems to me Shell did us a solid by letting us cut the line or did the get something in return?
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