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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 dragonfly454on Jan 29, 2022 5:18pm
382 Views
Post# 34375179

Getting some Comfort

Getting some Comfort Confirmed that the top drive change was recent ,SPS was on Developer (thanks SportyJ) gotta check see when Discoverer has a SPS due ..I think I got that from the Fleet update from Maersk ..anyways key point is that the Top Drive is functional ( upgraded) and the guide tracks are aligned and operational..seems like the original main top drive unit seems to had been used in the hammer mode of 125,500 ft-lbs torque in a manner that was not consistent with the word "intermittent" so of course it lost operational efficiency and also suffered some misalignment (proverbially went out of whack)that speaks to the Santonian Unconformity being penetrated.. so that has been squared away and regular drilling work then resumed..so lack of info leak probably meant there was none to leak......anyways good evening..
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