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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

Post by stark15on Dec 01, 2021 10:56am
156 Views
Post# 34184921

2nd well ********

2nd well ********From April press release: "75 - 80 days for the firm well and 40 days for the optional well"

From the August press release: "The decision on the specific timing of the second well will be decided in the upcoming months to capitalize on theJoint Venture’s rich set of exploration opportunities."

From this my guess is the 2nd well to be drilled Q1 2022.....not far from KAWA.

Apache spuds Oct 4/2019....announces JV with Total Dec22/2019.....announce oil discovery
Jan 7/2022......

Are we looking at 1 announcement? 2?  Are we looking at results 1st, then JV or same as Apache playbook?

I am going to say we ge an announcement the week of the 13th.....GLTA 
The decision on the
specific timing of the second well will be decid ed in the upcoming months to capitalize on the
Joint Venture’s rich set of exploration opportunities.

Day rate contract: 75 – 85 days for the firm well and 40 days for optional
well


Day rate contract: 75 – 85 days for the firm well and 40 days for optional
well


 
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