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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 OIL_RUNon Mar 04, 2022 9:31am
326 Views
Post# 34482623

RE:RE:RE:RE:Cgx News

RE:RE:RE:RE:Cgx NewsFrom the very beginning - Kawa was designed to be plugged and abandoned. Kawa was never intended to be preserved nor would be used for a DST (flow test).


I cannot recall a single instance where a frontier exploration deepwater well was flow tested immediately after discovery. I don't know where that came from on this board - but, it's completely inaccurate.


DSTs are usually performed on appraisal wells. The reason is that the well design on appraisals are sufficient to support hydrocarbon flow.


As part of DST, you also need to order specialized equipment from service companies in advance and configure the rig to perform a DST.


Again, during CGX / Frontera October 2020 presentation this was all communicated to investors:
1. Kawa would be P&Ad
2. No DST (or flow test)


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