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CGX Energy Inc V.OYL

Alternate Symbol(s):  CGXEF

Energy Oil & Gas E&P
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

CGX Energy Inc > Drilling of Wei-1 well to begin in May – CGX
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Comment by jtddon Apr 03, 2022 1:01pm
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Post# 34571237

RE:RE:Drilling of Wei-1 well to begin in May – CGX

RE:RE:Drilling of Wei-1 well to begin in May – CGXFrom what I understand, I believe the first well at any new site is an exploratory well. If they find oil, I think they can determine if it would be a commercial find or not. If commercial, then they drill appraisal/production wells.
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