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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 Dirksidetrackon Apr 13, 2022 12:16pm
149 Views
Post# 34600709

RE:RE:RE:RE:RE:RE:RE:RE:Flip a Coin

RE:RE:RE:RE:RE:RE:RE:RE:Flip a CoinHere I'll make it easy for everybody. Normally pressured is the hydrostatic head pressure of water or 0.454 psi per foot. If formations are filled with water that's the pore pressure that you'd expect. If the formation is higher than that then it's abnormally pressured. Probably being fed from a deeper formation with higher pore pressure.

So it appears, but not confirmed, that they ran into abnormal pressure in the Upper Campanian. Fed from below because the pressure was abnormal. My guess is that was the cause of the grief that they had to case and cement off ASAP. Once cased and cemented how can you get an MDT, much less a DST? You can't. All ya got is cuttings samples and logs. So my guess is that the market knows, from the ptoblems that they had, that they might have a helluva well there. Nobody gonna short or long it too much until they know for sure. Wei will confirm it one way or the other.

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