Post by
westcanpride on Aug 29, 2022 10:14am
CGX Updated PPTs
If folks check out the company website, good detailed PPTs have been updated for Corentyne and the Port. For the life of me, I have no idea why the hell they wouldn't have marketed this information ~3 weeks ago when they did the 2Q press release. Instead, I only found out because of SheDrills on Stocktwits.
Guess bigger picture, I would love to know what updated resource potential do they have for Corentyne outside of the "golden lane" (i.e., provide new upside targets).
Eagle-1 (geographically not very far from Kawa and Wei) was drilled in 2012 and only encountered very poor oil and minor gas throughout the objective Eocene and Maastrichtian. Of course, Kawa-1 encountered 68ft condensate in the Masstrichtian and then a lot more oil/condensate in the underlying Campanian-Santonian-Coniacian. As such, I would love to know what they think about these up-dip lands on the upper continental slope. Hell, Utakwaaka-1 well was supposed to be the next big well back in 2018-2019 before Apache started making big strikes in Suriname. Be nice to see how this past location stacks up given their new knowledge of the area.
Guess end of day, I want to see the share price go higher (like everyone else). But poor as*ed marketing, in addition to many remaining unknowns about mid to northern Corentyne license, still leave many outside investors shaky. The price probably will go up at some point here, but man, these fools sure as hell do not do themselves any favors.
Comment by
SheDrills on Aug 29, 2022 5:37pm
Eagle 2 needs to be drilled...to a deeper horizon that Eagle 1. A large light oil reservoir is down there. Eagle 1 was drilled before Exxon unlocked the deeper play w/ Liza.
Comment by
ljmorin on Aug 29, 2022 7:42pm
Yup, Exactly. They have been all around it for some time for sure!!