CGX Energy Inc V.OYL

Alternate Symbol(s): CGXEF

Energy Oil & Gas E&P

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

CGX Energy Inc > Timely Disclosure

<< Previous

Bullboard Posts

Next >>

Comment by Harel1976on Aug 20, 2024 5:25am

125 Views

Post# 36187273

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Timely Disclosure

If these two wells had 500 m boe recoverables you were a happy investors right Now, but the 500m they through to the air are the total prospective resources left after relinquishing most of corentyne and realising the deeper targets are not commercial.
To prove these prospects they need to drill 3-4 more exploration wells with around 30% cos each and around 80-100m$cost each.
Not economical!

<< Previous

Bullboard Posts

Next >>

E3 inches closer to Alberta's first lithium production plant