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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 Jan 23, 2024 11:27am
190 Views
Post# 35840921

RE:Exxon Looks to Tap Guyana's Gas Riches

RE:Exxon Looks to Tap Guyana's Gas RichesSo is Corentyne in the gas window or the oil window? Like the Montney in Alberta. The hydrocarbons exist in different states. It depends on the rate of heat flow (flux) cooking the kerogens from the source kitchen. Offshore Guyana it's fron from the Canje source kitchen underlying everything out there. The flux (varying levels of heat flow that affect the cooking temperature) can turn it into gas, natural gas liquids or oil. What the kerogen turns into is temperature dependant. And that depends on the heat flux. 

The important thing is that whatever is produced is trapped and does not escspe to the ocean surface. Looks to me that they found at least 500 million barrels of trap. Now the qiestion is how commercial is it?
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