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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 ljmorinon Jan 17, 2022 9:01pm
338 Views
Post# 34326763

Fangtooth and Lau Lau

Fangtooth and Lau Lau

It does mention Fangtooth as the the deeper one but does not rule out that Lau Lau was as well. For what its worth deeper to me mean Santonian.

e Fangtooth-1 well encountered approximately 164 feet (50 meters) of high quality oil bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water by the Stena DrillMAX and is located approximately 11 miles (18 kilometers) northwest of the Liza Field.

The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high quality hydrocarbon bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water by the Noble Don Taylor and is located approximately 42 miles (68 kilometers) southeast of the Liza Field.


“We are excited to announce two more significant discoveries on the Stabroek Block,” CEO John Hess said. “Positive results at Fangtooth, our first standalone deep exploration prospect, confirm the deeper exploration potential of the Stabroek Block. Both discoveries further underpin our queue of future low cost development opportunities. We continue to see the potential for at least six FPSOs on the Stabroek Block in 2027 with a production capacity of more than 1 million gross barrels of oil per day, and up to 10 FPSOs to develop the discovered resources on the block.”

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