Here's a little more...
News: May 18, 2000
Story Filed: Thursday, May 18, 2000 4:18 AM EST
CGX Energy Inc. provides update on exciting oil exploration initiative
CGX Energy Inc. a Toronto-based oil exploration company, will hold a
conference call Thursday, May 18 at 10:30 a.m. (EST, Dial in numbers to take part are 416-641-6383 and 1-877-330-4535. A
post view will be available for 24 hours at 416-626-4100, reference number 1528-8423. Kerry Sully, CGX President and Warren
Workman, CGX Vice President Exploration will update investors and the public on the Company's oil exploration activities offshore
Guyana. CGX will also be holding its Annual General Meeting on Tuesday, May 23 at 4:00 p.m. at the Toronto Board of Trade.
Vancouver, BC, May. 18, 2000 (Market News Publishing via COMTEX) -- CGX stands on the threshold of being an instant
international success story. The Company will begin drilling to test a giant turbidite fan offshore Guyana in late May or early June that
has the potential to yield huge amounts of oil, more than Hibernia in fact.
There have only been 20 major oil discoveries (major being 500 million barrels or more) in the 1990's. 19 of these have come from
what are called turbidite fan structures - the spots CGX is set to begin drilling are also turbidite fans.
The geographic and geologic conditions for an oil discovery are extremely encouraging.
"We have four of the largest I've ever seen in my career," says Warren Workman. "Few geologists and geophysicists get to explore
this kind of potential and have their research tested is such a short timeframe."
For more information, to confirm attendance for the conference call and/or AGM, or to arrange an interview with a CGX
spokesperson, please contact Strategic Objectives at (416) 366-2166.
TEL: 416-366-7735 Strategic Objectives
TEL: 416-366-7735 Strategic Objective
FAX: 416-366-2295 Michael Shipticki
Website: strategic-objectives.com Paul Keable
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