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.

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CGX Energy Inc > Today's Thoughts

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Comment by ShooterMcGon May 10, 2022 5:29am

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Post# 34669518

RE:RE:Today's Thoughts

The gas could be commercial if there was either a local market, or some onshore LNG processing that allowed the gas to be transported globally.

It's in the Guyana government's thoughts to use the offshore gas:
https://www.reuters.com/business/energy/guyana-studying-natural-gas-pipeline-shore-minister-bharrat-2022-05-03/

Condensate is usually very similar to light oil. The problem is often that gas is produced with it. So you need to find some where to put the gas. If you find a way to sell the gas, you probably have a commercial condensate.

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