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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 Dec 19, 2021 5:58am
247 Views
Post# 34244371

RE:RE:RE:Rig Component Failure/Replacement

RE:RE:RE:Rig Component Failure/ReplacementOk This morning I went to the Stocktwits board to find out more about this supposed top drive replacement. Shedrills said that they replaced the top drive, it took 2 weeks and they got the new top drive from a Maersk rig nearby. She didn't say which rig. Maybe from the Maersk Developer offshore Suriname.

She is basing this on photos she found scouring the internet posted, according to her, by an unknown roughneck who took photos. That's her source.

She is claiming that the top drive replacement is the reason for the time delays.

A lot of people are believing what she says. OK, that's where were at. Note that the Discoverer's top drive is an NOV HPS-1000 rated for 2.5 million pounds and 7500 psi. So why would you need to replace an entire top drive when you could easily replace any of it's failed components?

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