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GCX Energy Inc. (TSXV:OYL)

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Last Post: 4/25/2022 1:21:22 AM - Followers: 1 - Board type: Free - Posts Today: 0

http://finance.yahoo.com/q?s=OYL.V

http://www.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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OYL News: L'OCRCVM permet la reprise de la négociation - OYL 05/09/2022 06:27:00 AM
OYL News: IIROC Trading Resumption - OYL 05/09/2022 06:23:00 AM
OYL News: CGX And Frontera Announce Light Oil And Gas Condensate Discovery At The Kawa-1 Exploration Well, Offshore Guyana 05/09/2022 06:10:00 AM
OYL News: Suspension de la négociation par l'OCRCVM - OYL 05/09/2022 05:21:00 AM
OYL News: IIROC Trading Halt - OYL 05/09/2022 05:16:00 AM
PostSubject
#72   https://petroleum.gov.gy/operators Rk3 04/25/22 01:21:22 AM
#71   https://youtu.be/omUu7HF1Ivk Rk3 04/24/22 01:52:44 AM
#70   https://www.inewsguyana.com/cgx-energy-secures-us35m-frontera-loan-to-finance-de Rk3 04/16/22 02:10:31 PM
#69   https://www.reddit.com/r/Cgxef/comments/tjdntm/guyana_on_track_to_become_second_ Rk3 03/24/22 01:50:56 AM
#68   https://www.reddit.com/r/Cgxef/comments/ti2f79/watch_the_origins_and_initial_pro Rk3 03/24/22 01:50:21 AM
#67   https://oilnow.gy/featured/cgx-searches-for-vessels-services-ahead-of-july-drill Rk3 03/17/22 12:37:57 AM
#66   https://youtu.be/NBE8ES7p5gk Rk3 03/12/22 01:52:21 AM
#65   https://oilnow.gy/featured/cgx-raises-us35-million-for-new-well-on-corentyne-blo Rk3 03/11/22 05:38:03 PM
#64   https://oilnow.gy/featured/guyana-suriname-may-be-the-most-exciting-exploration- Rk3 02/26/22 01:35:22 PM
#63   https://oilnow.gy/featured/kawa-answers-lingering-questions-about-commerciality- Rk3 02/22/22 01:21:36 AM
#62   https://oilnow.gy/featured/cgx-executive-co-chair-expalins-significance-of-kawa- Rk3 02/21/22 01:28:03 AM
#61   https://oilnow.gy/featured/cgx-frontera-to-inject-up-to-us130m-for-more-explorat Rk3 02/19/22 01:51:49 AM
#60   CGX ENERGY INC. AND FRONTERA ENERGY CORPORATION NEWS RELEASE JOINT Rk3 02/14/22 03:19:03 PM
#59   https://www.facebook.com/100067447688664/posts/his-excellency-dr-irfaan-ali-and- Rk3 12/18/21 01:49:33 AM
#58   https://fronteraenergy.mediaroom.com/2021-12-16-CGX-ENERGY-INC-AND-FRONTERA-ENER Rk3 12/16/21 06:06:59 PM
#57   Vessel Finder shows Pacific Dutchess Tug/Supply Ship in Rk3 07/26/21 02:01:45 AM
#56   https://www.inewsguyana.com/major-construction-works-ongoing-for-deepwater-port- Rk3 07/14/21 02:00:36 AM
#55   https://oilnow.gy/featured/cgx-energy-says-it-will-spud-kawa-1-in-august-well-co Rk3 07/14/21 01:58:06 AM
#54   https://marad.gov.gy/wp-content/uploads/2021/07/No.-78_2021_CGX_Kawa_1_Drilling_ Rk3 07/06/21 01:21:37 AM
#53   https://seekingalpha.com/instablog/12503881-shedrills/5593883-cgx-energy-deriske Rk3 06/25/21 03:41:59 PM
#52   Kawa -1 well targeting traps comparable to Stabroek Rk3 05/08/21 01:47:38 AM
#51   https://cgxenergy.com/wp-content/uploads/2021/02/CGX-Energy-Demerara-PPL-Extensi Rk3 02/22/21 05:38:09 PM
#50   OTC: CGXEF. TSX: V.OYL Demerara, Corentyne oil blocks Rk3 02/19/21 11:47:51 AM
#49   https://finance.yahoo.com/news/cgx-energy-inc-announces-guyana-110000252.html Rk3 02/17/21 01:26:38 AM
#48   https://www.newsfilecorp.com/release/74000/CGX-Energy-Announces-Appointments-of- Rk3 02/14/21 01:55:26 AM
#47   https://youtu.be/7LemRJayxiU Rk3 02/14/21 01:51:22 AM
#46   https://www.guyanastandard.com/2020/11/26/cgx-completes-evaluation-of-3d-seismic Rk3 11/28/20 12:52:50 AM
#45   https://seekingalpha.com/article/4391058-frontera-energy-guyana-be-game-changer Rk3 11/24/20 02:11:41 AM
#44   https://oilnow.gy/featured/staffing-is-now-the-focus-for-start-of-cgx-deep-water Rk3 11/24/20 02:04:28 AM
#43   https://seekingalpha.com/article/4389724-cgx-energy-guyanas-indigenous-oil-compa Rk3 11/18/20 01:33:49 AM
#42   https://guyanapetroleumdigest.ca/2020/11/05/cgx-advances-guyanas-berbice-deep-wa Rk3 11/07/20 12:40:33 AM
#41   https://oilnow.gy/featured/u-s-development-bank-looking-to-move-to-action-very-q Rk3 10/15/20 12:41:08 AM
#40   NEWS RELEASE CGX ENERGY INC. (TSX-V / OYL) Rk3 08/08/20 12:46:56 AM
#39   https://static.seekingalpha.com/uploads/2019/2/11/41325066-15499283370951493_ori Rk3 08/06/20 01:46:49 AM
#38   https://www.kaieteurnewsonline.com/2020/07/29/guyanese-must-call-on-oil-companie Rk3 07/30/20 01:52:07 AM
#37   CGX mentioned at end of interview. https://www.proactiveinvestors.co.uk/comp Rk3 02/04/20 02:15:17 AM
#36   https://oilnow.gy/featured/breaking-exxonmobil-ups-guyana-reserves-to-8-billion- Rk3 01/27/20 02:50:07 PM
#35   https://oilnow.gy/featured/cgx-energy-expected-to-drill-well-by-november/ Rk3 01/07/20 07:04:29 PM
#34   Boatload of discoveries’ offshore Guyana signals more to Rk3 12/30/19 12:53:27 AM
#33   http://cgxenergy.ca/cmsAssets/docs/presentations/CGX_Energy_Inc_Corporate%20Pres Rk3 12/10/19 01:47:22 AM
#32   https://www.edisongroup.com/edison-tv/bitesize-briefing-heavy-oil-in-guyana/ Rk3 12/10/19 01:42:47 AM
#31   https://www.kaieteurnewsonline.com/2019/11/18/operators-estimate-four-billion-ba Rk3 12/02/19 06:28:08 PM
#30   wow over a 50% drop - PTSD setting Buckey 11/13/19 04:59:30 PM
#29   https://www.ecooilandgas.com/wp-content/uploads/2019/11/HP-ECO_8_20191104_Resour Rk3 11/07/19 02:02:49 AM
#28   CGX invites bids for Crab Island port works Read Rk3 11/07/19 01:08:39 AM
#27   https://www.kaieteurnewsonline.com/2019/10/22/two-oil-companies-may-be-grappling Rk3 10/23/19 12:41:45 AM
#26   https://www.caribbeanlifenews.com/stories/2019/9/2019-09-20-bw-more-wells-guya Rk3 10/20/19 01:35:37 AM
#25   “Now that the Joe-1 discovery has de-risked shallow Rk3 10/20/19 01:26:36 AM
#24   0 News Article CGX collaborating with UG to roll out Rk3 10/03/19 01:35:16 AM
#23   News Article Proximity of Joe discovery in Orinduik Block Rk3 10/02/19 01:30:01 AM
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