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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 SportyJon Oct 06, 2023 3:19pm
521 Views
Post# 35673762

RE:RE:Lab Results

RE:RE:Lab Results WCP, good points. Don't disagree.

Here's what we know:

Kawa Masst/Camp gas condensate 14-26% effective porosity.  Santonian light oil 10-18% effective porosity.  I find no mention of permeability.

Wei Masst/Camp oil.  I didn't look hard enough to see if they said what type of oil. Assume it's light.  No mention of por/perm.

So again let's just say the Wei Santonian is light oil.  As I said before, so what?

These clowns say it's all going as planned. Fits right with our pre drill geologic models...yada yada.  They have to have pre drill post drill models not just for geologic markers but also reservoir models.  Put out a friggin reserve estimate and don't give us this oh that would take numerous appraisal wells to do that. Joke. I'd guarantee that if a major buys N Corentyne, their NR is gonna headline how many bbls they are acquiring.

Apologize for the rant but you just don't drill these types of wells based on science and real data without having some expectations. If the expectations here have been met, then do we have the billions of bbls that that silly years old study said about N Corentyne?  Well then just say it.

There's never been any reason whatsoever to sandbag here. You either got it or you don't.  The longer this drags on without clarity from these companies, the tendency is to believe the latter. 

GL WCP and as always, all is imo only.




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