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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 tiger77on Jun 24, 2022 8:45am
259 Views
Post# 34779700

RE:RE:CHANGE IN TIDE

RE:RE:CHANGE IN TIDESportyJ, I don't even think the company knows the answer to this.  The well was drilled in the most optimal spot to hit multiple zones (which they did) and announced what they found.  I think if things were different and this wasn't a wildcat they would have put the drillbit smack dab in the middle of the best zone, and then could have said commercial or not.  Best guess is after one well, not optimized I don't know or think they can announce anything more than they have already.

Just my take.

GLTA
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