Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 Sep 26, 2024 10:37am
216 Views
Post# 36242144

RE:RE:RE:Wishfull thinking or a good bet ?

RE:RE:RE:Wishfull thinking or a good bet ?There could be a quadtrillion barrels of oil there but if it won't flow to production wells because of permeability barriers then it cannot be produced economically. They said clearly that they need to drill some appraisal wells. Appraisal means that they need to flow test them to make sure that the permeability is high enough that it allows oil to flow from pore to pore towards production wells. Yeah great porosity. Lots of voids between grains of reservoir rock to hold lots of hydrocarbons like shale which has a very high porosity. But maybe low permeability, like shale, where you need to create permeability by fracturing the shale in order to create flow paths to the production wells. They haven't done any appraisal wells. They need to flow test some wells and they don't have the cash to do it. 
<< Previous
Bullboard Posts
Next >>