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CGX Energy Inc (CGXEF)

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Last Post: 4/25/2022 1:21:06 AM - Followers: 16 - Board type: Free - Posts Today: 0



http://cgxenergy.ca/

CGX Energy Inc. is a Canadian-based oil and gas company focused on exploring for oil in the Guyana-Suriname basin. Our Licences in Guyana cover 9.5 million gross acres, 7.2 million net.



In 1996, the founders of CGX began negotiations with the Government of Guyana to acquire an offshore concession to explore for oil. CGX and others view the Guyana-Suriname Basin as attractive for high-risk exploration for hydrocarbons. The United States Geological Survey (USGS) has identified the Guyana-Suriname Basin as having the second highest resource potential after Greenland among unexplored oil basins in the world. The USGS estimates mean recoverable oil reserves of 15.2 billion bbls and gas reserves of 42 trillion cubic ft.

In June 1998, CGX Resources Inc., a wholly owned subsidiary of CGX, was granted the 10-year Corentyne Licence by the Government of Guyana. The following May, we conducted a seismic program over the offshore portion of the concession, identifying 2 turbidite deep-sea fan targets, Eagle and Wishbone, and two stratigraphic-trap targets, Horseshoe West and East. In June 2000, while setting up to drill on Eagle, the rig CGX had contracted was forced off location by Surinamese gunboats, even though Guyana and Suriname are full signatories to the Law of the Sea Convention. Because CGX had already incurred the financial cost of mobilizing drilling equipment from Italy, we drilled our third-ranked target, Horseshoe West, a stratigraphic-trap play that was abandoned as a dry hole. After drilling Horseshoe, we relinquished 1 million acres with reduced exploration potential and added the 1-million acre Annex extension to the Corentyne Licence in January 2001. CGX Energy received an extension for its Corentyne License to June 2013.

Negotiations to resolve the maritime border dispute between the two countries were ongoing and on February 25, 2004, the Government of Guyana formally commenced binding dispute settlement procedures under the United National Convention on the Law of the Sea (UNCLOS). On September 20, 2007, the International Tribunal on the Law of the Sea (ITLOS) announced the award in favour of Guyana -- see Maritime Border Resolution

In addition, CGX has a 25% working interest in the offshore Georgetown Licence located between the original Corentyne Block and The Annex. This area is subject to a confidentiality agreement with the operator, Repsol-YPF.

In 2004, CGX finalized its purchase of the Pomeroon Block, a 2.8 million acre 100% interest block to the northwest.

Research into onshore activities in Suriname and advancements in technology piqued our interest in exploring the onshore portion of our Corentyne Licence. On September 10, 2003, ON Energy Inc. was incorporated in Guyana, as a wholly owned subsidiary of CGX Energy Inc. ON's principal asset is the Licence rights to the 800,000-acre onshore and near shore portion, the Berbice Block.


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#168   https://petroleum.gov.gy/operators Rk3 04/25/22 01:21:06 AM
#167   https://youtu.be/omUu7HF1Ivk Rk3 04/24/22 01:52:19 AM
#166   https://www.inewsguyana.com/cgx-energy-secures-us35m-frontera-loan-to-finance-de Rk3 04/16/22 02:10:17 PM
#165   https://www.reddit.com/r/Cgxef/comments/tjdntm/guyana_on_track_to_become_second_ Rk3 03/24/22 01:51:16 AM
#164   https://www.reddit.com/r/Cgxef/comments/ti2f79/watch_the_origins_and_initial_pro Rk3 03/24/22 01:49:56 AM
#163   https://oilnow.gy/featured/cgx-searches-for-vessels-services-ahead-of-july-drill Rk3 03/17/22 12:37:40 AM
#162   https://youtu.be/NBE8ES7p5gk Rk3 03/12/22 01:52:06 AM
#161   https://oilnow.gy/featured/cgx-raises-us35-million-for-new-well-on-corentyne-blo Rk3 03/11/22 05:37:35 PM
#159   This went down just like when eeenf found loki 03/03/22 03:31:21 PM
#158   Got a fill on my one bid. willlbone 03/03/22 11:16:44 AM
#157   https://oilnow.gy/featured/guyana-suriname-may-be-the-most-exciting-exploration- Rk3 02/26/22 01:35:03 PM
#156   Here's a better link: https://12ft.io/proxy?q=https%3A%2F%2Fwww.upstreamonlin Ebenezer3 02/24/22 12:39:50 PM
#155   https://www.upstreamonline.com/focus/kawa-1-discovery-is-good-news-guyana-but-to Ebenezer3 02/24/22 11:52:41 AM
#154   https://oilnow.gy/featured/kawa-answers-lingering-questions-about-commerciality- Rk3 02/22/22 01:21:22 AM
#153   https://oilnow.gy/featured/cgx-executive-co-chair-expalins-significance-of-kawa- Rk3 02/21/22 01:27:39 AM
#152   https://oilnow.gy/featured/cgx-frontera-to-inject-up-to-us130m-for-more-explorat Rk3 02/19/22 01:51:13 AM
#151   CGX ENERGY INC. AND FRONTERA ENERGY CORPORATION NEWS RELEASE JOINT Rk3 02/14/22 03:18:44 PM
#150   GXE-T Gear Energy Ltd k9narc 02/03/22 02:18:37 PM
#149   They hit commercial oil https://finance.yahoo.com/news/cgx-energy-inc-frontera-e loki 01/31/22 08:28:18 PM
#148   Up 27% and trading halted loki 01/31/22 02:33:11 PM
#147   Something up. Up 30% loki 01/31/22 11:22:29 AM
#146   https://www.facebook.com/100067447688664/posts/his-excellency-dr-irfaan-ali-and- Rk3 12/18/21 01:49:16 AM
#145   https://fronteraenergy.mediaroom.com/2021-12-16-CGX-ENERGY-INC-AND-FRONTERA-ENER Rk3 12/16/21 06:07:36 PM
#144   Great day! Nice steady rise Garyst 12/16/21 04:59:04 PM
#143   I’m at .85 out at $2???? ;) LowFloatLopes 12/16/21 11:44:00 AM
#142   Going!!!! UKdude 12/16/21 11:41:32 AM
#141   the next Guyana in the making? Ebenezer3 12/13/21 12:10:39 PM
#140   https://www.newsfilecorp.com/release/100309/CGX-Energy-Inc.-Provides-Operational Ebenezer3 10/20/21 09:11:53 AM
#139   Vessel Finder shows Pacific Dutchess Tug/Supply Ship in Rk3 07/26/21 02:01:21 AM
#138   https://www.inewsguyana.com/major-construction-works-ongoing-for-deepwater-port- Rk3 07/14/21 02:00:56 AM
#137   https://oilnow.gy/featured/cgx-energy-says-it-will-spud-kawa-1-in-august-well-co Rk3 07/14/21 01:57:49 AM
#136   https://marad.gov.gy/wp-content/uploads/2021/07/No.-78_2021_CGX_Kawa_1_Drilling_ Rk3 07/06/21 01:21:20 AM
#135   Bid one dollar willlbone 07/02/21 09:54:41 AM
#134   https://seekingalpha.com/instablog/12503881-shedrills/5593883-cgx-energy-deriske Rk3 06/25/21 03:41:41 PM
#133   Kawa -1 well targeting traps comparable to Stabroek Rk3 05/08/21 01:50:18 AM
#132   https://cgxenergy.com/wp-content/uploads/2021/02/CGX-Energy-Demerara-PPL-Extensi Rk3 02/22/21 05:38:52 PM
#131   Demerara, Corentyne oil blocks hold potential 4.8 billion Rk3 02/19/21 11:47:22 AM
#130   https://finance.yahoo.com/news/cgx-energy-inc-announces-guyana-110000252.html Rk3 02/17/21 01:27:00 AM
#129   https://www.newsfilecorp.com/release/74000/CGX-Energy-Announces-Appointments-of- Rk3 02/14/21 01:55:45 AM
#128   https://youtu.be/7LemRJayxiU Rk3 02/14/21 01:50:45 AM
#127   https://www.guyanastandard.com/2020/11/26/cgx-completes-evaluation-of-3d-seismic Rk3 11/28/20 12:52:32 AM
#126   https://seekingalpha.com/article/4391058-frontera-energy-guyana-be-game-changer Rk3 11/24/20 02:12:23 AM
#125   https://oilnow.gy/featured/staffing-is-now-the-focus-for-start-of-cgx-deep-water Rk3 11/24/20 02:04:11 AM
#124   https://seekingalpha.com/article/4389724-cgx-energy-guyanas-indigenous-oil-compa Rk3 11/18/20 01:33:33 AM
#123   https://guyanapetroleumdigest.ca/2020/11/05/cgx-advances-guyanas-berbice-deep-wa Rk3 11/07/20 12:40:03 AM
#122   https://oilnow.gy/featured/u-s-development-bank-looking-to-move-to-action-very-q Rk3 10/15/20 12:40:26 AM
#121   Operational Update The Company, through CGX Resources Inc. (“CRI”) Rk3 08/08/20 12:41:40 AM
#120   https://static.seekingalpha.com/uploads/2019/2/11/41325066-15499283370951493_ori Rk3 08/06/20 01:46:00 AM
#119   https://www.kaieteurnewsonline.com/2020/07/29/guyanese-must-call-on-oil-companie Rk3 07/30/20 01:51:48 AM
#118   CGX mentioned at end of interview. https://www.proactiveinvestors.co.uk/comp Rk3 02/04/20 02:13:54 AM
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