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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

Post by mark92on Nov 22, 2022 6:06am
537 Views
Post# 35117897

Exploration results show emergence of deeper plays in Guyana

Exploration results show emergence of deeper plays in Guyana
"

Westmount said one only ought to pay attention to the deeper Santonian pools in Suriname’s Block 58; the deeper hydrocarbons reported at Liza-3, Tripletail-1, Yellowtail-2, Uaru-2, Turbot-2, Longtail-3, Hassa-1 and Fangtooth-1 on the Stabroek Block; together with the hydrocarbon shows reported at Sapote-1 on the Canje Block.

The UK firm said too that the logged net pay in the Santonian-Coniacian intervals at Kawa-1 on the Corentyne Block, all suggest that there is a deeper play waiting to be unlocked.

Westmount further said oil pay has recently been reported from the Zanderij-1 well in Suriname’s Block 42 where the operator, Shell, was targeting the Santonian and deeper intervals, with well results currently under evaluation.

Westmount said additional deep drilling with multiple targets is scheduled from the fourth quarter 2022 at Wei-1 in Guyana’s Corentyne Block which is operated by Canadian exploration duo, Frontera Energy Corporation and CGX, and at Awari-1 in Block 58 which is operated by TotalEnergies. The Stabroek Block will also see deeper tests at Fangtooth SE-1Fish-1 and Lancetfish-1."

https://oilnow.gy/featured/exploration-results-show-emergence-of-deeper-plays-in-guyana-suriname-basin-westmount-energy/

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