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CGX Energy Inc

Published : November 30th, 2011

Awards Drilling Contract for Offshore Eagle Well

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Keywords :   Brazil | Canada | Suriname | United Kingdom |

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.


 

Companies Mentionned : Aberdeen | Cgx | Government | Jaguar | Petroleum & Resources | Total |
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

CGX Energy Inc

CODE : OYL.V
ISIN : CA1254055066
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CGX is an exploration company based in .

CGX holds various exploration projects in Guyana.

Its main exploration property is JAGUAR-1 in Guyana.

CGX is listed in Canada and in United States of America. Its market capitalisation is CA$ 20.4 millions as of today (US$ 15.4 millions, € 14.1 millions).

Its stock quote reached its highest recent level on March 11, 2011 at CA$ 9.80, and its lowest recent point on June 03, 2016 at CA$ 0.13.

CGX has 110 390 000 shares outstanding.

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5/27/2016CGX Energy Files First Quarter Financial Statements
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6/25/2015Annual and Special Meeting Voting Results
6/19/2015CGX Energy Announces Spud Date Extensions
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12/19/2014CGX Energy Provides a Year-End Operational Update
12/1/2014CGX Announces $900,000 Settlement With Repsol on Offshore Bl...
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11/13/2014announces Kabukalli-1 Exploration Well on the Corentyne Bloc...
11/13/2014CGX Energy announces Kabukalli-1 Exploration Well on the Cor...
11/3/2014CGX Energy Files Third Quarter Financial Statements
10/10/2014CGX Energy Announces Bridge Loan and Operational Update
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7/30/2014CGX Energy Files Second Quarter Financial Statements
6/26/2014CGX Energy Inc. - Annual and Special Meeting Voting Results
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12/24/2013Press Release - CGX Energy Commences Arbitration Proceedings...
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7/10/2013Press Release - CGX Energy Completes Share Consolidation
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4/11/2012Press Release - CGX Provides Update on Eagle-1 Well Offshore...
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1/23/20123D Seismic Program on Corentyne License Completed
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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
12/23/2010Seasons Greetings from CGX
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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