CGX Energy Inc V.OYL

Wei-1 well

[simonx72]

I interpret this to mean Makarapan on the Demerara block will not be drilled. Is Wei -1 on the Coryntene?

https://cgxenergy.com/wp-content/uploads/2021/11/CGX-Energy-Announces-Filing-of-Third-Quarter-Financial-3Nov2021.pdf

All statements, other than statements of historical fact, that address activities, events or developments that CGX believes, expect or anticipates will or may occur in the future (including, without limitation, statements regarding exploration and development plans and objectives with regards to the Kawa-1 and Wei-1 wells, including drilling plans, and the development of the BDWP and its future usage, including the OSB) are forward-looking statement

[Goldrush97]

First time I am seeing the name wei 1 well. I think this well will be drill on Northern portion of the corentyne block. Probably few miles away from Kawa. This is completely understandable since that area have recent seismic and way better chances of finding oil given the geology and many other discoveries nearby. With regards to demerara block, they might renegotiate extension with govt or bring

[SheDrills]

If the next well is on Corentyne they might still pull a rabbit out of their hat and farmdown to another operator who can scramble their rig...I'm not giving up on that acreage yet...but I do rather see them drill prospects with high confidence rather than to hold a higher risk license...simply because they don't have that XOM cash.

[Beaner1814]

Nice catch! Given the nature of the forward looking statements to date and all news releases, Wei-1 has not been mentioned. Could be a positive slip, no? I cannot imagine whoever drafted this will have their job anymore as this is definitely going to raise some hands.  Excited to see what the correction or subsequent release entails.