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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 bazilfawltyon Jun 17, 2023 11:59am
435 Views
Post# 35501750

government has aproved Wei1 well as appraisal/Exploration

government has aproved Wei1 well as appraisal/Explorationhttps://stockhouse.com/news/press-releases/2022/11/28/cgx-and-frontera-provide-update-on-wei-1-well-preparations

“The Joint Venture is pleased to announce that it has spud the Wei-1 well, offshore Guyana and that the Government of Guyana has approved the Joint Venture’s appraisal program. Wei-1 will appraise both the Kawa-1 discovery as well as explore additional opportunities within the Corentyne Block. The Wei-1 well is on-trend, and well positioned for success with both Kawa-1 and recent peer discoveries immediately adjacent to the northern section of the Corentyne block,” commented Executive Co-Chairman Suresh Narine.
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