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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 Aug 10, 2023 11:07am
142 Views
Post# 35581755

RE:RE:Total and Apache …

RE:RE:Total and Apache …Gotta agree with you there wcp. I mean how in the heck do they know what they have without first testing the well? XOM Liza-1 was an exploration well, not optimized to be tested much less completed. Hole diameter too small at TD.

They then drilled appraisal well Liza-2 with larger hole diameter at TD that could be tested. They tested it and found no permeability barriers or "compartmentalization" which means that 100,000 of thousands of barrels of oil can flow to production wells over thousands of square hectares of reservoir rock at high pressure with no constraints in flow.

Kawa was an exploration well. Not designed to be tested or completed. Wei was drilled to TD with 12 1/4 inch hole as I understand it. Designed as an appraisal well that can be tested. So the rig has been released without testing the well.

People wonder why volumes are so low. Heck a company called New Strata Energy from former Pacific Rubiales founders has more volume traded than oyl and fec combined. Nobody seems to give a f what fec/oyl found in the Golden Lane because, to most of us, if they found something, they'd be testing the well right now.
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