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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 SportyJon Jan 23, 2022 3:38pm
304 Views
Post# 34350277

RE:RE:RE:This week

RE:RE:RE:This weekMiftee9, rough numbers but kawa was to be 21,600' for $85 mil. Cgx 12/16/21 NR stated they had 2,160' left and the new budget to finish went to $115-$125 mil. At 12/16/21 we hadn't drilled H23 or H25. So the big ASSUMPTION on this Sunday (I like Sundays) is we are thru H23 and might even be through H25. H19 being good (unclear how good) wasn't a reason to stop on 12/16/21. H23 being bad or good would be a reason to stop or keep drlg thru H25. Neither Exxon nor APA/Total are taking near this long to drill nearby and that is very worrisome. So 1. we have had a well from hell (mechanically), 2. we have something very special or 3. Kawa was the last scene of a 20 year cgx nightmare. Lastly let's hope the overall markets bounce back next week and don't take everything down. SportyJ
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