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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 lexxus296111111on Dec 26, 2021 9:50am
289 Views
Post# 34262683

RE:Demobilization

RE:DemobilizationGuys... the announcement is premature just like the first announcement that was made warning marine traffic that CGX had started drilling. That announcement was made on July 2nd. CGX didn't start drilling until the second half of August. That announcement also stated that drilling would continue until December 15th. Which has clearly changed based on the NR we received from the company. Talking about only being 90% complete and costs expected to increase. The new announcement by the Maritime Administration says Demobilization will occur until December 2022. Clearly the dates and timing of these announcements made by the Guyana Maritime Administration is clearly off. Here is the first announcement made in July. https://oilnow.gy/wp-content/uploads/2021/07/No.-78_2021_CGX_Kawa_1_Drilling_Operation-1068x1382.jpg
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