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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 bazilfawltyon Jan 18, 2022 1:48pm
256 Views
Post# 34329466

RE:RE:RE:RE:RE:RE:Dirk

RE:RE:RE:RE:RE:RE:DirkEbenizer3:

Yes Majors are super qualifird partners,but, the work continues on their terms and shedules.
Luiperd well drilled by TOTAL with AFE as a partner and lease holder..assigned TOTAL the operatorship and larger % of the pie.  They hit a large Gas well  which is very valuable to South africa  as they need that power source and  have the infrastructure to support more Gas to it's systems.  It has been months since  drilling and  no dates to return yet  as far as I read. AFE  small company like OYL, are now  waiting on TOTAL and where this sits on their agenda. I would hope KAWA 1 ( looking  good ), IMO,would attract more activity  to get back at the area...but who knows?   We wouldn't want to wait severa lmonths out before more work, as the  sp will sag off the momentum . So yes a Major company  in the intermediate  term might get back to it  or knowing what they would have in their back pocket ,if,  the well is sweet, which all indicators seem to point to a comparible find  possibly , and  so there might be that delema for CGX/Frontera , any thoughts  folks?
    Good Luck  Gang.....looking good
      Baz
 
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