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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 geomanx02on Jun 29, 2023 9:13pm
361 Views
Post# 35521507

Kawa & Wei wells not same as Exxon wells

Kawa & Wei wells not same as Exxon wellsExxon wells are located in a depositional sub-marine fan system where thick uniform reservoirs arre present.

CGX well are located on the depositional slope which fed sand into Exxon's sub-marine fans....One should expect  multiple, thin, discontinuous  sands where CGX is drilling.  Depositional slope reservoirs will be comprised of coarse,poorly sorted, irregular sand grains which will afford very large initial flow rates but reduced OOIP than the sub-marine fans where Exxon is drilling.

IMO the Wei well is the same as the Kawa well....think it will be difficult and expensive to complete wells in the multiple sands located on the depositional slope.  

Do not think Exxon is a potential buyer......China might be a candidate.....Apache....maybe
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