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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 westcanprideon May 03, 2023 7:20pm
150 Views
Post# 35428835

RE:RE:Jan 28, 2022

RE:RE:Jan 28, 2022

Honestly, I have no idea what's happening with the drilling. Only the insiders trading this stock know! Maybe if I got daily drilling and geoscience updates, I could remark otherwise lol! 


My sincere guess is that they are taking extra steps to get as much data as possible in each succession they encounter hydrocarbons. To assess Wei, of course, but to also better correlation with Kawa given they couldn't get this information previously. As mention in early March, that probably includes speciality wireline tools over each hole section, side wall cores and fluid samples. This data collection takes tons of time but is almost 100% necessary at this point. 


I just hope in the news release tonight, we get some meaningful technical updates. Bigger picture, we also need news that will also attract new buyers... otherwise this stock ain't going no where! The past year has definitely shown that! 

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