CGX Energy Inc V.OYL

They know what they have…

[westcanpride]

"The Wei-1 well encountered 210 feet of hydrocarbon bearing sands in the Santonian horizon. The Joint Venture acquired wireline logs and extensive core samples from the Santonian, however, due to a tool failure downhole and a new tool not being available, oil samples were not obtained. The rock and fluid properties of the Santonian will now be analyzed by an independent third-party laboratory over the next 2-3 months to define net pay and a basis for the evaluation of this interval". 

"oil samples were not obtained"...

Without physical evidence, how did they feel confident enough to put oil instead of hydrocarbons in the PR? IMO, they know exactly what the hell exists in the Santonian. Any competent well site geologist would have been able to see fluorescence on the cuttings and the well-log data would have also confirmed oil as well. 

I get why they sent the data to a lab for extra confirmation, but still... and remember, with Kawa, they magically had lab analysis for the cuttings data mere days after the debacle that was the early March news release. 

This whole situation is just a long drawn out embarrassment at this point. Anyone with O&G experience would know it shouldn't be this way, yet here we are. 

[SportyJ]

WCP, the presser says:  "The Joint Venture acquired wireline logs and extensive core samples from the Santonian". I believe they were also successful in obtaining core samples in the Masst/Camp. We didn't get core samples in any zone with Kawa. So in your opinion, would the analysis of Wei core samples take a longer time to analyze? Understand your point on mud logging, but I

[westcanpride]

Hi Sporty! My guess is that they obtained sidewall codes after each hole section was completed. Obtaining a full diameter core would be overkill and far too costly:, Sidewall cores, in conventional clastic reservoirs, can easily be evaluated in a couple months for fluid quality, saturation, porosity, permeability, etc.  An obvious benefit is that the results obtained from the sidewall

[waitingstill]

What i heard is that they sent it to a very high reputation lab and that is the cause of delay. Because big compaies also use that lab and evidently they get priority and push Cgx to the back of the bus. At least that is what I hear if you can believe it. Patience is key and hope these guys get it together soon.

[jtdd]

I think they have unitization plans with Exxon pending Bluefin results.

[Kelvin]

Well WS, if they took sidewall cores, then they'll need a very good lab because those cores are less than 2 inches long and typically a lot of the core is mud filter cake and not formation so they have to differentiate between the two.

[westcanpride]

So in western Canada, the two big plays are either the oil sands or shale oil/gas (montney or duvernay). Majority of work for the oil sands occurs over the winter and the montney/duvernay don't take a lot of cores these days (all considered).  bottom line, Cgx/frontera could have easily sent their core data to either AGAT or Core Labs in Calgary back in June and would have absolutely

[SheDrills]

Cores are in Houston. 

[Strawboss1]

I wonder when we will get the results ??

[Investnowplease]

Completely agree.   Investing in Vancouver based o&g companies ie just like buying junior mining stocks. What a complete joke. This stock is just like Trillion. If you dont know that one check it out.  havent been on here in a while and might buy some CGX AS A JOKE INVESTMENT.  reading that they still havent released results in unbelievable. I said a very long time ago and