CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > 20000 achieved as at Year End

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Comment by SportyJon Jan 02, 2022 7:08pm

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Post# 34277907

RE:RE:RE:RE:20000 achieved as at Year End

Welcome PlainviewOil and for your post to the board. Re the AFE cost overrun you make a pretty good point. Were we given a DHC AFE of 85 mil or was the 85 mil DHC + Compl? Others can chime in but I believed it was an estimate for total well costs (D&C). We are exceeding the drilling time estimate which on the face means we are over budget. Keep in mind there will be a brand new AFE to come back later and finish "completing" (perf/acid/tbg/facilities etc) this well if deemed commercial. When I think I've thought of it all you get a post like yours that gets you to thinking. Keep the posts coming and GL. Only a guess...Hale County?

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