CGX Energy Inc.

Transaction Type
Sellers
Marketers
Basin
Suriname Basin
Post Date
Estimated Price
MM
Description

CGX Energy Inc. (Toronto Venture: OYL) has retained Jefferies & Co. Inc. to seek a joint-venture partner to develop its interest offshore Guyana in the Suriname Basin. CGX is scheduled to drill on its 100% Corentyne PPL during second-half 2010. CGX vice president of exploration says, "The 2,344 square kilometers of 3-D seismic that was acquired and processed in 2008 through 2009 has confirmed a drill-ready, multiple-target prospect close to our former Eagle well location. The geophysical data has been processed in time and depth using multiple processors, and includes pre-stack inversion and AVO studies. The new seismic processing and interpretation strengthens the definition of the existing prospects and adds significant new information to our understanding of the prospects and multiple geological targets." Contact Bill Marko, 281-774-2000.