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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 Jun 26, 2024 9:03am
114 Views
Post# 36106644

RE:Re press release

RE:Re press release It's very interesting that the Maas in Wei is analogous to Liza in Stabroek. I wonder if they could re-enter Wei and flowtest the Maas. I forget the casing design. I think it was 14 inch casing with shoe at about 10,000 feet just above the Maas, then 12 1/4 inch hole with 9 5/8 casing but I'm not sure. The hole is cased anyway. Easy to set and secure packers in, probably wouldn't be HTHP, perforate with some big-a$$ed guns, open it up to see what they have. What do you think SportyJ? Feasible? Probably do it for $40 million or so.

But if XOM could lend out one of their rigs then save big on mob, demob costs. XOM seems to be the natural partner to me. They got how many rigs already working for them? On just the Yellowtail project they plan to drill 55 wells, if memory serves, production and injection wells. 
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