CGX Energy Inc V.OYL

Kawa Pay Zone?

[geomanx02]

Why does management continue to label the 12 hydrocarbon bearing zones as "pay zones".  There is no "payzone" in this well, nada, zero..... seeing as it is an expendable well....which by the way....they neglected to inform the owners of CGX.

And, divide 200' of hydrocarbon bearing zones by 12 and one gets a bunch of thin zones.  Hope there is one that is rather thick....but don't hold your breath for management to inform the company owners.

Jail is to good for this management team....send them to Chernobyl!!

Hopefully, a real ol/gas company will take them out!!

[SportyJ]

geomanx02, you raise an interesting point and one that left me perplexed. Can you or anyone here point to where Cgx, prior to this week's NR, stated that Kawa was always going to be a "test" well and was never intended to be drilled as a producer?

[tiger77]

As per Oil_Runs post this is where they stated the well would always be P & A when tested and completed. https://stockhouse.com/companies/bullboard/v.oyl/cgx-energy-inc?postid=34482623

[SportyJ]

Tiger77, thanks much. Certainly won't dispute Oil Run but I can't find it but will keep searching. This is a positive example of this community and sharing info and providing answers to questions and I really appreciate your post!

[waitingstill]

Yes SportyJ. You keep "searching". Check your doorstep, under the mat. Check in the garbage. Check under the couch cushions. Maybe in the laundry hamper? You are bound to find it! Lol. The actual investors and longs here know where it is and many of us heard it first hand. So take your BS and keep going. You had your fun yesterday. Do us a favour and take yourself and a few of your

[SportyJ]

Amazing. An honest question and Professor Nasty chimes in. Lol

[Investnowplease]

There clearly is something wrong in this wellbore. That doesnt mean good or bad reservoir. You would never abandon a 150m dollar well. Temporary abandon yes, fully abandon no. Again more questions than answers.  The c4 through c12 is good. As far as H2s goes. I have drilled many wells in my life in sour zones, sometimes a chromatograph gives you sour or no sour. I dont trust that.  

[Investnowplease]

My total guess is there have swollen some shale below the intermediate casing due to being on the hole too long or incorrect mud systems. If it was mud systems thats incompitence. Again not saying thats the case though. 

[Dirksidetrack]

Investnowplease, You don't find swelling smectites that deep. They've undergone diagenisis and have been converted to non reactive, hard, brittle illites that deep. Over-pressured, spalling shale? Quite likely. Regarding your H2S comment: The mud engineer would have run a Garret Gas Train at least twice a day to determine if there was H2S creeping into the mud and if yes then the mud

[Investnowplease]

I know exactly what h2s does. 150 ppm is the limit after that you get headaches and other effects. 500-1000 you font know what hit you. What im saying i have drilled many wells that there is no H2s in it. After flowing it was up to 5%.  Thats how inaccurate it is. Chromos do tell you that. I have also drilled though shales that swell and collapse with inproper mud or being on a hole too long.

[Dirksidetrack]

Yeah while drilling you got mud hydrostatic keeping the H2S in the formation so you only get the H2S that you've drilled that gets diluted in the mud. Low concentration. When flowing you now got H2S from the formation coming at you. Much higher concentrationSwelling shales are smectites. In water based mud they use gel to build viscosity which is a smectite called sodium montmorilinite. It

[ShooterMcG]

It's completely normal to permanently abandon an offshore exploration well. Do you think Exxon are using their first Liza discovery well as a producer?

[simonx72]

You're absolutely correct. An exploration well is not a producing well and folks are getting a little carried away with the "plugged and abandon" terminology. It's par for the course. The true commerciality of Kawa will also only be known after at least 1 appraisal well is drilled. They can speculate now, but I suspect we will see the true value of this stock only after Wei

[RightAngle45]

Simonex 72  So if we have to wait for at least two more wells to be drilled we are probably looking at least, another 12 to 18 months. I hope not but the share price will more then likely drift lower if this is the case.  Maybe back to a buck or lower, unless we get bought out. ?