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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 31, 2022 12:05pm
220 Views
Post# 34379043

HPHT

HPHTMe thinks this does not fully fit the criteria of a true HPHT well per se. It probably had pockets of high pressure in areas where they expected lower temprature ..just saying ..and finding the right mud weights/types was creating an issue.Happens a lot ..happened in Maka Central and Apache learnt quickly and the rest of the Block 58 wells were a cinch it seems.

Seems we were oversold because of Putin so maybe thats where the buying pressure came from..I was tempted to let go around US$2.30 by the FOMO crept in lol lets see how this goes ..seems we reached a new resistance point ..which is all good don't want to get ahead of ourselves ..

Stupid question ..do yalls think we will get a NR then rig moves or rig moves then NR?


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