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CGX Awards Drilling Contract for Offshore Eagle Well



CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that it has awarded a drilling contract to a subsidiary of Diamond Offshore Drilling, Inc. (NYSE:DO) ("Diamond") for the Ocean Saratoga semi-submersible drilling rig to drill the Eagle-1 well on the Company's 100% owned and operated Corentyne Petroleum Prospecting License ("PPL"), offshore Guyana. The Ocean Saratoga is currently performing a work-over in the Gulf of Mexico and will soon be available to drill the Company's Eagle-1 well. CGX is in discussions with Government of Guyana officials regarding timing for drilling. An announcement on mobilization and drill timing will be announced in a separate press release.

Diamond is a leading drilling contractor that owns and operates one of the largest fleets of offshore drilling units in the world and has operation bases in Houston, Perth, Australia, Macae, Brazil and Aberdeen, Scotland. Diamond has over 40 years global drilling experience and approximately 5,000 highly skilled employees worldwide.

Steve Hermeston, President and CEO commented, "The Company will be drilling two highly prospective wells offshore Guyana -- the Eagle-1 well that will appraise the Eocene and Maastrichtian geologic formations to an anticipated total depth of 4,300 metres and the Jaguar-1 well which will appraise the Turonian geologic formation to an anticipated depth of 6,500 metres. Our 100% Eagle-1 well is anticipated to take approximately 60 days to drill. The Jaguar-1 well, located on the Georgetown PPL, in which CGX has a 25% interest with partners Repsol Exploracion S.A (operator), YPF Guyana Limited and Tullow Guyana BV, will be drilled by the Atwood Beacon jackup rig as soon as it completes drilling for Inpex Corporation offshore Suriname. This drilling will mark the fruition of years of evaluation, preparation and cooperation between CGX and the Guyana Government and the onset of evaluating the petroleum potential of this highly prospective basin."

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospectivity by the United States Geological Service. CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.


 

Data and Statistics for these countries : Brazil | Canada | Suriname | United Kingdom | All
Gold and Silver Prices for these countries : Brazil | Canada | Suriname | United Kingdom | All
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CGX Energy Inc

CODE : OYL.V
ISIN : CA1254055066
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Financings of CGX Energy Inc
4/26/2013Press Release - CGX Completes Private Placement and Announce...
4/23/2013Press Release - CGX Files Year-end Financial Statements and ...
3/25/2013Press Release - CGX Provides Update on Private Placement Fin...
3/12/2013Press Release - CGX Provides Update on Private Placement Fin...
2/27/2013Press Release - CGX Provides Update on Financial Position an...
10/20/2011Completes $92 Million Bought Deal Financing
12/14/2010Completes $23 Million Bought Deal Financing
11/23/2010reases Bought Deal Financing to $20 Million
11/22/2010Announces $15 Million Bought Deal Financing
Nominations of CGX Energy Inc
6/28/2013Press Release - CGX Announces Annual and Special Meeting Vot...
12/10/2012Press Release - CGX Appoints Suresh Narine Executive Chairma...
5/22/2012Press Release - CGX Appoints Dr. Dennis A. Pieters to the Bo...
1/3/2012Appoints Dr. Suresh Narine to Board of Directors
9/13/2011Appoints Chief Operating Officer and Controller/Chief Accoun...
6/28/2011Appoints David Christian to Board of Directors
5/20/2011Announces Kerry Sully to be AppointedExecutive Chairman and ...
3/15/2011Appoints Investor Relations Representative
Financials of CGX Energy Inc
10/25/2013Press Release - CGX Energy Files Third Quarter Financial Sta...
7/24/2013Press Release - CGX Energy Files Second Quarter Financial St...
8/16/2011Files Second Quarter Financial Results
6/20/2011Files First Quarter Financial Results
6/2/2011Files Annual Information Form
Project news of CGX Energy Inc
3/21/2013Press Release - CGX Releases New Prospective Resources Estim...
10/1/2012Press Release - CGX Farm-out of Georgetown Interest
2/13/2012Press Release - CGX Commences Drilling Eagle-1 Well Offshore...
2/10/2012(Jaguar-1)Press Release - CGX Announces Drilling of Jaguar-1 Well Offs...
12/21/2011Reports on Corentyne Drilling Deferral
9/29/2011(Jaguar-1)Reports on Georgetown Drilling Deferral
Corporate news of CGX Energy Inc
2/25/2014Press Release - CGX Energy Announces Rig Share MOU with Inpe...
1/20/2014Press Release - CGX Energy Announces Successful Injunction a...
12/24/2013Press Release - CGX Energy Commences Arbitration Proceedings...
10/2/2013Press Release - CGX Energy Provides Corporate Update
8/24/2013Press Release - CGX Energy Inc. - Annual & Special Meeting R...
7/10/2013Press Release - CGX Energy Completes Share Consolidation
5/11/2013Press Release - CGX Energy Proposes Share Consolidation
4/25/2013Press Release - CGX Shareholders Approve Resolutions at Spec...
3/12/2013Press Release - CGX Provides Update on Pomeroon and Georgeto...
3/3/2013Press Release - CGX Announces Change of Local Management
2/13/2013Press Release - CGX Announces New Demerara and Berbice Licen...
12/24/2012Season's Greetings from CGX Energy Inc.
11/29/2012Press Release - CGX Announces New Corentyne License
9/20/2012Press Release - CGX Provides Update
7/16/2012(Jaguar-1)Press Release - Jaguar-1 Well Encounters Light Oil but Ended...
6/27/2012Press Release - CGX Annual & Special Meeting to be Webcast
5/28/2012Press Release - CGX Provides Update on Near Term Funding Req...
4/11/2012Press Release - CGX Provides Update on Eagle-1 Well Offshore...
4/5/2012Press Release - CGX Added to S&P TSX Venture 30 Index and Re...
2/21/2012Press Release - CGX Added to S&P TSX Venture 30 Index and Re...
1/23/20123D Seismic Program on Corentyne License Completed
1/3/2012Announces Management Additions and Changes
1/3/2012Reports Ocean Saratoga Enroute to Guyana
12/23/2011A Holiday Greeting from CGX Energy
12/5/2011Announces 3D Seismic Program for Corentyne PPL
11/30/2011Awards Drilling Contract for Offshore Eagle Well
10/21/2011Appoints Exec VP, Exploration and General Manager
10/14/2011Announces Investment by Pacific Rubiales
9/9/2011Trading Halt
7/19/2011Confirms Shareholders Rights Plan
6/22/2011Annual & Special Meeting to Be Broadcast by Live Webcast
12/23/2010Seasons Greetings from CGX
12/21/2010Investor Update with Link Corrected
12/21/2010Investor Update
8/17/2010Completes $20 Million Financing
7/24/2010reases Previously Announced Offering
7/21/2010Revises Public Offering
6/14/2010Announces $65 Million Short Form Prospectus Offering
11/23/2009Reports on Drilling Plans
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TSX-V (OYL.V)Other OTC (CGXEF)
0.410+0.00%0.370+0.00%
TSX-V
CA$ 0.410
10/01 09:48 -
0%
Prev close Open
0.410 0.410
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0.410 0.410
Year l/h YTD var.
0.180 -  0.600 57.69%
52 week l/h 52 week var.
0.180 -  0.600 -2.38%
Volume 1 month var.
600 -18.00%
24hGold TrendPower© : -15
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