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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 Devanand1on Jan 26, 2022 9:06am
218 Views
Post# 34361581

Exxon targeting Tarpon-1, conducting 4D seismic at Guyana’s

Exxon targeting Tarpon-1, conducting 4D seismic at Guyana’s

ExxonMobil is set to continue exploration activities offshore Guyana at the Tarpon-1 prospect located approximately 121.5 nautical miles (225 kilometers) offshore covering an area of 0.29 square nautical miles (1 square kilometer).

OilNOW understands the Stena DrillMAX will be engaged in drilling activities at the well.

This follows plans for exploration drilling at Patwa-1, also at the Stabroek Block, located approximately 113.4 nautical miles (210 kilometers) offshore.

Meanwhile, the U.S. oil major is pursuing 4D seismic surveying operations on the block covering an area of 1033.58 square nautical miles (3545.10 square kilometers). The survey operations will utilize the SV Ramform Tethys, MV Thor Alpha and MV Thor Freyja.

Since 2015, the company has made over 25 major discoveries at Stabroek Block amounting to over 10 billion barrels of oil equivalent resources, placing Guyana at number 17 on a list of 20 countries for the highest oil reserves in the world.

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