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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 May 11, 2022 1:28pm
176 Views
Post# 34674624

RE:# Unanswered Questions

RE:# Unanswered QuestionsYancy, I'm definely over-stepping my technical bounds here and had hoped that people like Plainview Oil who does know his stuff weren't disduaded from posting. He said (paraphrasing) that you can find hundreds of millions of barrels of oil but if it's not economically feasible to produce then it's worth nothing at this point in time. Just like Bakken shale oil was worth zilch in the 1970s.

So they found 228 feet of pay distributed over many thin sections of sandstones. Is it economically producable? They don't know yet. If they did they would have said so. The sp is reacting to what they didn't say.

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