CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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.

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CGX Energy Inc > What's happenin' ?

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Comment by stormin1on Mar 08, 2023 10:06am

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RE:What's happenin' ?

AnMar, I always appreciate your insights and you know alot more about this kind of process than I do. CGX/FEC drilled to 15400' in approx 40 days (Jan 20 to Mar 1) and will continue to a total well depth of approx 20500'. At their current rate they would be at target depth in approx another 13 days (way ahead of schedule) Seems to me they have found a pretty large area that is not just hard rock. A large reservoir???

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