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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 SheDrillson Nov 26, 2021 3:08pm
222 Views
Post# 34170385

RE:For CGX drilling team

RE:For CGX drilling teamOCM-

I wouldn't doubt their operational competency...if anything they have too many chiefs and they are over thinking every decision, erring on the side of caution.  As you know all the services are leveraging their pool of regional experience across multiple wells and clients and guiding the CGX & Frontera on Kawa 1 as best as they can.

I spent a few years on Chevrons drilling optimization team and we consulted internally on all the major exploration wells worldwide.  There are often execution challenges and surprises in the realm of a wildcatter and that's why Lacy mentioned the contingent liners on the technical update...to let us know he was thinking ahead.

Better to proceed with caution than not to proceed at all.  Every contingent liner that gets set will push the TD back by a week but open the mud weight window moving forward...expect delays.

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