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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 dragonfly454on Dec 16, 2021 8:24pm
359 Views
Post# 34239081

Dirk and others

Dirk and othersHi good evening, I'm finally back home ..had connection issues with internet in jungle ..Dirk see WhatsApp..I skimmed through the NR..great to see something from the proverbial horse's mouth...look through my posts you will see I mentioned that the upper Santonian had a small pocket between Horizons 19 and 23 ..that according to my Norse source is a bell weather of what to expect in the lower Santonian ...I don't think Management would give something so enticing and then drop an anticlimax ...90%of target depth is knocking on heaven'$ door ..bear in mind this is an exploration well and the targets selected are not the individual best targets but the column that had the most potential to hit as much stacked targets the proverbial three birds with one stone (as opposed to the one bird with two over at Stocktwits) ..6685 -355=6330 *0.90 gives 5700 meters ..well the info I got was 5545 or 5554 meters in Campanian they had the first indications of HC's ok and then below as the Santonian was penetrated they had to slow down make adjustments etc then went through some more promising stuff just above the Primary Target at Horizon 23..anyways in my opinion Kawa is being prepped for production with the necessary liners and casings etc being set ...don't expect the last 10,% to be a cakewalk either adjustments or mods have been made to the drive to get it to do some reaming and increase torque and so forth if necessary and they are being guided by the Apache playbook for Block 58 they are getting good support and also some bigger news in terms of the development and future of CGX is in the offing one the main target fulfills promise..with what has been encountered so far the seismic signatures anticipated as DHIs have been more or less confirmed and the only thing now is proceed to target depth and quantify and qualify the resource ..how many barrels and what API ..
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