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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 BoykJurko11on Oct 26, 2022 5:49pm
249 Views
Post# 35051471

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:drilling

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:drillingSporty, Yes you're right. They eliminated one string. They've also planned for two continguency strings. I just looked at the presentation again. Slide 13 of the presentation: Achieve Kawa-1 equivalent of 11-3/4 liner with Wei-1 14 casing string casing off Kawa-1 Campanian challenging section and avoid slow deep underreaming operations 2 contingency strings (11-7/8 and 9-5/8 ) available to reach main objectives in last hole section

So I guess that the time savings will come from not having to underream the Campanian which they call challenging. I wonder what happened at Kawa? They want to get the Campanian behind 14" casing quickly. They don't want it exposed to open hole for too long. Overpressured shale stringers maybe? Anyway maybe they can knock a few weeks off of the drilling curve by getting behind casing what maybe gave them grief on Kawa. Who knows? No info like you say.

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