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Bullboard - Stock Discussion Forum 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... see more

TSXV:OYL - Post Discussion

CGX Energy Inc > Appraisal well
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Post by Frank007 on Feb 25, 2023 7:18pm

Appraisal well

That is what has been stated ...core samples  short flow tests ...and. More core samples further down ....still will be years away from any production so invest accordingly ....
Comment by JJJRRR on Feb 25, 2023 8:38pm
I guess that's why it has been said many times that small oil companies have no business playing in the big league drilling offshore wells. Billions of dollars and many years before they ever see a penny in return!! Even Frontera is not large enough to play these games. Or so it seems!!
Comment by Kelvin on Feb 26, 2023 4:39am
Good morning Frank, Yeah, one friend told me that geological modelling is the key. They have to get it right because you can really screw up an oil field by injecting water into the wrong places. The water might channel up into the oil creating permeability barriers if not done right.  So, it could well turn out that they may need more appraisal wells to confirm their model. Once they nail ...more