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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 Dirksidetrackon Nov 23, 2021 9:07pm
229 Views
Post# 34159789

RE:On Page 10 of 19 of last Presentation

RE:On Page 10 of 19 of last PresentationWhich would mean that high angle directional wells would have to be drilled? Explains the longer time length to drill. Not a straight down shot where you can put more weight and RPM on bit.

Or for you engineering types they can deliver more horsepower to the bit on vertical wells since horsepower is a function of torque x RPM. So that's probably what's taking so much time here. They're drilling high angle in a wide sweeping arc like a cork screw to be able to hit all three targets with one well. But I'm just guessing.

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