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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 SportyJon Oct 26, 2022 10:07am
156 Views
Post# 35049439

RE:RE:RE:drilling

RE:RE:RE:drillingSoul, fair enough. It's not necessarily about making mistakes (although it can be). You think our team is better than Shell? Lol. To answer your questions and Dirk and others are more qualified: common no but wellbore conditions dictate and fishing operations can happen for a variety of reasons. My guess here is Shell is trying to retrieve a radioactive logging tool. Not good. As for who pays depends on the terms of the drlg K. But I'm 99% sure in this assumed case the operator pays not the driller. In summary drilling challenges happen and thus the risk of this industry. Drilling was a problem with kawa and I'm hopefull Wei will go better. Take care soul.
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