CGX Energy Inc V.OYL

197ft at Bluefin

[Schreibzey]

https://newsroom.gy/2024/03/15/exxonmobil-announces-first-discovery-for-2024-at-bluefin/

[waitingstill]

Massive find at Bluefin! Nice. Remember that Bluefin is on our Central target so that is effectively our third successful hole! Man, it would be so bizarre if these guys can't get something good out of a JV from three huge finds.

[westcanpride]

https://petroleum.gov.gy/well-activities good link showing all wells in the region. Almost 200ft of hydrocarbon sandstone literally a couple miles away from the border.  Exxon and whoever else is interested in this part of the basin knows what is there and within Corentyne.  Definitely goes the show what a competent drilling team does for a company.... unlike the braindead

[ohu812]

Hey, does that mean that all the long time investors are not as stupid as everyone thinks or sometimes even how we feel? My wife laughs at me and says slow and steady wins the race and her portfolio is doing better than mine. Question is who's going to win the race??

[Zibo510]

I am pretty sure that Exxon did a DST and flow test prior to releasing the results and have appraisal well activity planned.  That's the big difference between CGX wells which haven't flowed a barrel and all their reserve estimates have the words may contain and subject to further appraisal activity in their NR's. I am surprised that CGX stock didn't get a lift due to the

[SportyJ]

Zibo510, I'm pretty sure you don't know what a "DST and flow test" even means in context of drilling, testing, completing and producing an oil & gas well. But if you have hard evidence that Exxon DSTd and flow tested Bluefin-1; do share.

[Kelvin]

Sporty, I'd love to get my hands on some DST data for Bluefin but I doubt that they DST'd the well. Usually after a DST the operator will report flowrates on various choke sizes and shut-in pressure build back rates after prolonged flow tests. XOM only reported pay length. I'd love to see DST info because it might provide a pretty good idea about the commercial potential of Corentyne

[SportyJ]

Dirk, I'm an oil & gas generalist. Meaning I know a little bit about a lot and a lot about a little. While this may mean nothing to most here you can DST in open hole while drilling. Thereby you can't DST a well once the well has been drilled, cased and finished.  I assume theortically based on well design, you could come back later and perf and flow test a drlled well.  My

[Kelvin]

Yeah Sporty, I too am a generalist. I rely on my expert friends who say that you can't open hole test an HTHP well because the packers will not set well enough against rock walls faces to isolate zones because of the high formation pressures. They need to seal against the inside of casing. Anyway, XOM has probably got a rig dedicated for testing wells and somewhere in the list of wells to

[Zibo510]

Looks like the Bluefin success factor may have kicked in. 

[Zibo510]

I don't and never said I did know, because Exxon stated they are not releasing well data information.  But from following many oil plays a drill stem test has always been part of the initial tests preformed on wells after a discovery to help prove up commercial viability and reservoir properties and confirm that an appraisal well is warranted. Exxon being the Professional's that

[soulfire]

I don't remember EXXON ever releasing technical info. to the public. This is the downfall of CGX as well as many other boneheaded decisions. CGX/FEC decided to explain every aspect aspect of the drill and they paid dearly. People on this board are caught up with technicalities also, maybe trying to show off their knowledge of the Industry. WHO GIVES A CR*P, THIS IS AN INVESTMENT!!!!

[Zibo510]

Any party looking to farm-in or buyout Corentyne will be faced with drilling at least one more well.  The activity / success next door with Exxon has de-risked further exploration on Corentyne, it has increased the salability and value of Corentyne. All of the historical seismic data of Corentyne will be getting a thorough review as it relates to Exxons PPL.  Odds for OYL shareholders

[Zibo510]

Here's a thought,  apparently Exxon isn't releasing any data about the Bluefin discovery.  What if they're doing that deliberately so that potential buyers for Corentyne won't be able to tie that information to Corentyne,  because they're looking at it.  Just a thought but who knows. 

[Kelvin]

Did XOM test Bluefin? What did Kawa have for pay? I forget. Over 200 feet wasn't it? How did that work out? Meanwhile Canadian midsize oil producers have gone as high as 10x since that time. 

[soulfire]

and yet you waste your time on this board???

[Kelvin]

Not a waste of time at all. I'm learning how lemmings think and how FOMO pumpers manipulate it.