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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 geomanx02on Mar 07, 2022 9:30am
289 Views
Post# 34489794

CGX/Management/Kawa #1

CGX/Management/Kawa #1Maybe one day soon the elite CGX  management team will discover why they drilled the Kawa well and what the current status is....for now the story continues to be in limbo and can't imagine government officials are happy with the never ending story on the Kawa #1.  Remember the Abbott and Costello routine.....Who's on First?

The reason the Kawa #1 had mulltiple thin clastic intervals is that CGX's concession is on the basin slope, an area of high energy depostion yielding coarse, poorly sorted, thin, discontinuous clastics.
Do not expect to find the well sorted, thicker, fine grain sands that are yielding huge amonts of oil out in the basin depositional model (XOM)

CGX may not find what they are looking for but savy shareholders can profit from trading the stock over the coming year.

JMO


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