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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 Kelvinon Jun 02, 2023 6:18am
345 Views
Post# 35476377

RE:RE:RE:RE:RE:RE:RE:What do you not get Matt?

RE:RE:RE:RE:RE:RE:RE:What do you not get Matt?Fair enough wcp. I actually liked your and Shedrills posts. This issue of testing or not has been bugging me since Kawa spud. My reservoir engineer friend in Calgary sent me a link which I posted here back in October 2021.

It was a case study of what was involved in testing an HTHP well in the Bay of Bengal, India. They had to create special alloy metals, machine them to "mil spec" standards then test them in a barometric chamber at bottom pressures and temperatures because you cannot afford tool faulures because of metal deformation due to pressure or metal expansion due to temperature. It was quite the involved lengthy process.

They successfully tested the well. I was wondering if APA had to do the same in Suriname and how that might affect fec/cgx plans. Ok so they don't need to test in order to arrive at a reliable resource estimate. That opens up a whole new set of questions that I best keep to myself. Thanks for your input wcp. Btw, I think that going forward, management's intentions are not even clear to themselves. If I were sitting on $20 to 50 billion worth of oil I'd think long and hard on the best path forward. Cheers!
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