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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 > Net pay…
View:
Post by westcanpride on Nov 11, 2023 10:27am

Net pay…

Great paper below. I encourage everyone to read.

In short, net pay is determined not only by geological criteria but also parameters such as well completion methods, economical constraints, surface facilities and lastly oil price. 

By their own admission, not a single piece of work was completed by either management team to determine ways to produce Santonian pay. Instead, they reduced the pay significantly and never specified why? Come on fellas, don't be gutless cowards, specify what criteria you used to justify such low net pay. If China can produce hydrocarbons from very flow permeability reservoirs, surely you can as well. 


For over a year, all both teams could do was brag about how they were targeting channel axis sands in Wei and thus would hit the motherload... they did, as per June 28! To now waste an entire summer and come back with only a single sentence saying "lower permeability and natural flow"... give me a bloody break. They manipulated the data folks to make it look horrible.

look all over google. Countless reservoirs are produced despite lower permeability. This is not the 1970s where 300mD reservoirs are required.

Even Victor Vega, in his sloppy reply yesterday, couldn't even come up with a intelligent response. He knows they are purposefully lying with the intent of making it look bad.

I hope the authorities blast Frontera and make their lives hell. They manipulated data and they know it. 


https://www.sciencedirect.com/science/article/pii/S0920410520309098

Comment by geomanx02 on Nov 11, 2023 12:25pm
The word 'Pay" is often used in place of the word "Porosity".....and yes, it is misleading to those not in the O/G industry. " Pay" to many = money in the bank!! Can shareholders take legal action?  Probably not, because one would have to show "intent to defraud".  In the O/G business the most over used word is "estimate" as just about ...more  
Comment by Kelvin on Nov 11, 2023 12:47pm
Yup, for that precise reason I've forgotten about Santonian. Dragged out in courts for years at great cost. Let's see what's in the Maas. We all know that we need a reliable resource estimate. Flow tests don't lie. Mother nature doesn't lie. It is what it f'n is. Let's get a flow test. 
Comment by Strawboss1 on Nov 11, 2023 1:08pm
Read article and it is very interesting. These crooks need to be jacked up. For a while I thought they were just that stupid, but its plain to see now its crooked with intentional devious manipulation of the facts. They have mislead shareholders for some time, with so many lies that they them selves post contradicting statements , because lies are harder to remember then facts.I am going to get in ...more  
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