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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 dragonfly454on Jan 23, 2022 12:22pm
273 Views
Post# 34349931

RE:RE:This week

RE:RE:This weekWon't be the biggest one well discovery. In the basin.but with location if commercial  it would pump oil for a long time ..would need to look synergy with some bigger dog..to gamble big on the H25 if H23 was found blank would be poor decision  in,my books so not only would extra cost hurt the bottom line it would erode investor confidence  going fwd..so there must be some justification...if it's commercial  and it totally derisks the western formation in north corentyne block then the two should compare with Maka central and Sapakara remember it's not a huge contiguous formation with sediment it's a stratigraphic trap ..a sand filled lobe that is hopefully charged with hydrocarbons that we aiming for well capped by the santonian unconformity .. 
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