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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 OIL_RUNon Apr 14, 2022 11:14am
747 Views
Post# 34603832

PATIENCE

PATIENCE

Stay patient.



CGX/Frontera needs to come forth with overwhelming information on Kawa well results with clear direction on potential appraisal options surround Kawa and general the Eastern fan complex. 


This is not just providing each reservoirs oil quality, type, and pay thickness. But, also updated geological interpretation of the far Eastern fan complex. 


They did not disclose Kawa p10, p50, or p90 independent third party figures. I suspect they may consider providing in next update.


They certainly need to use this opportunity to not only
update minority shareholders - but, also prospective JV parties and Government of Guyana stakeholders. Ultimately, they need to be able to gain the interest and eyes of a JV party with facts, figures, and good geological interpretation.


Again, what is the size of the prize. What did we learn and de-risk with Kawa? What are the next steps? Give me context as to options of future Kawa appraisal well locations?  


I suspect part of the delayed timing is related to determine cutting and fluid properties of the reservoirs encountered. However, I suspect the real meat and potatoes of a future CGX/Frontera presentation to clarify the geological setting of the Northern Corentyne Eastern Fan Complex - which clearly involves more than one reservoir complex and multiple cretaceous aged play types.



Your turn De Alba - don't drop the ball with a watered down - generic presentation. Come at us as if there were billions of dollars here at stake. 



Jennifer Budlong, Regan Pasgrove, and Mark Zoback - this is your opportunity. The stage is yours. Show me the money.

 

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