CGX Energy Inc V.OYL

THIS IS BIGGER THEN WE REALIZE!!!!

[YancyDerringer]

They are taking nearly 5 months to drill this well , which means they are taking their time. They already know there is BIG OIL there before they drill. They want to get it RIGHT! They want to get every drop in the layers they are drilling. WOW! :)YD

[soulfire]

Does this option to drill second well and thus delay the drilling in Trinidad means that Shell/BP is on board with CGX/Frontera as possible partners? I truely believe they will find more than they bargained for at KAWA1 Very Exciting News.

[Rapsani]

Great news... we'll be meeting the contractual obligations to maintain our licenses.   Also, in the unlikely event Kawa is not commercially successful, there would still be some support for share prices for well number 2 (and whatever news may come for the port).

[westcanpride]

Fully agree Rapsani. I think all of us should be incredibly thankful Mr. Jagdeo is putting CGX/Frontera to task and making them drill this second well in Demerera before the license requires a new extension. We all saw the interest in offshore Guyana at last week's conference... Mr. Jagdeo is not wasting anymore time. He wants wells drilled ASAP in Guyana and CGX/Frontera finally committed to

[Windyhill]

Just a matter of interest Gentleman. Specifically WCP and Rapsani...... could you please tell me where in the news release today was any mention made of a second well in Demerara ? Or is it your assumption and wild guess..... I really think you both need to read the News releases carefully and  base your your facts on the news releases and do not make any construed statements based on

[westcanpride]

Windyhill, https://cgxenergy.com/wp-content/uploads/2021/04/CGX-Energy-Announces-Agreement-for-use-of-the-Maersk-Discoverer-Semi-22April2021.pdf In this April release, it states that the primary well is Kawa-1 and the second option is a well in Demerera. Looks like the JV finally exercised that option. Back in February, the Demerera license was also extended 1-yr to 2022. A well will need to be

[Rapsani]

my take on the news is they have exercised the right (I believed had be sequentially after Kawa but maybe not), and supporting it, it says they want to maintain the continuity of the crew and team, which you would lose with a long break.   my guess.. a discover in Kawa will lead to the 2nd drill immediately after Kawa.  WCP mentioned.. we have until Feb to spud or sik loosing a

[Windyhill]

Ok. I see now. It is NOT based on any facts in the releasebut it was your guess. I understand..... You  could have, in my opionion said in your post that indeed it was your best Guess.  I do know that the company and its partners have an obligation in the Demerara, but I think it is important to see this first released by the senior Management and excellent drill team assembled

[ljmorin]

If they've exercised their option, and are keeping the rig for consecutive drills. It will be Demarara simple as that as per their commitment. I think the real thing is it seem more likley every day tht there will also be a Farm out. A big one, and before TD on KAWA!. GLTA

[ljmorin]

There exercising their option and keeping the rig, So I assume its Demeara. I know it was iffy a while back but it  is now confirmed they are keeping the rig. It is also been verified by Fronterra in their NR thi REGIONS ENERGY GEOSCIENCE ENGINEERING TECHNOLOGY VESSELS SUBSEA

[ljmorin]

And More, Kawa-1 is Expected to Reach Total Depth in the First Half of December 2021 Option Exercised With Maersk to Drill a Second Well TORONTO, Aug. 23, 2021 /CNW/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") today announced the spudding of the Kawa-1 exploration well, offshore Guyana. CGX Energy Inc. ("CGX"

[ljmorin]

After exercising their right ti do the second hole right after. I believe a Farm out is iminint now. GLTA

[YancyDerringer]

ljmorin I agree, I think that is one of the factors why they are taking more time to be careful about drilling this hole. Gives them time to be open to deals etc. :)YD

[westcanpride]

I see your point (and enthuasism YD)... but Kawa-1 is being drilled slowly because its a new exploration well and many suprises can still come about (pore pressure, sub-seismic faults, etc). Even with a highly experienced team, I am sure many of them do not know all the subsurface risks in Guyana/Suriname and thus are being cautious. Guaranteed they probably have an extra caing/liner planned