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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 westcanprideon Sep 11, 2023 2:55pm
221 Views
Post# 35629915

Labs

Labs

Labs that exist to do conventional analysis on fluid quality and reservoir parameters such as porosity and permeability exist all over the world. I'm talking all over the USA, Canada (mainly Calgary), Middle East (such as Abu Dhabi) and Europe (especially UK!): 

If the rumor from SheDrills is true, and they are still waiting on lab results, who in the hell did CGX/Frontera go with? Let's remember, back in 1Q 2022, after the massive tank job that existed with Kawa (over uncertainty of fluid quality), management was magically able to release a press release a couple days later stating the fluid quality via lab results they conducted. Yet, here we are almost 3 months post TD in Wei and still no updates? 

I don't get it. If this previous lab for Kawa was too busy (and labs are usually pretty truthful over timelines), go elsewhere. Tons of options (like outlined above) that would have loved to analyze this data from Wei-1. Hell, some universities probably could have done the work also. 

Also, for something like fluid data, this stuff is incredibly time sensitive. Not like you want the rock data sitting around and the fluids to dry off/evaporate (especially lighter end fluids). Look at Kawa... specialized equipment to gather the data but the data needs to also be preserved properly. 


I don't know at this point. These bums cannot seem to even to basic stuff correctly. Amazing rocks they have, but truly a third tier/embarrassing staff we have working the asset. 


 

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