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Postby duay7t15f » Mon Jan 08, 2018 10:20 pm

CGX Energy Inc yesterday announced that shooting of the 536 sq km 3D seismic survey on CGX’s 100 per cent Corentyne Petroleum Prospecting Licence (PPL) has been completed.CGX also announced that,Cheap NBA Store, for the seismic shoot in the Georgetown PPL,Wholesale NFL Jerseys, in which CGX holds a 25 per cent interest, the survey was expanded by 200 sq km to 1,850 sq km.The Georgetown survey has been shot parallel with that in the Corentyne and is expected to be completed after the new year.President and Chief Executive Officer of CGX, Kerry Sully,CHeap NFL Jerseys China, noted that the company’s board of directors already has an additional $2 million to include seismic interpretation,Cheap NFL Jerseys China, well drilling design and an environmental assessment study.The seismic survey is being undertaken at a cost of US$16M. The programmes are funded by CGX from existing working capital that, at the end of September 2008, was approximately US$35 million.CGX Energy Inc. commenced the seismic shoot in mid-October this year. The company, in an earlier release made at the commencement of the shoot, had said that it was pleased that the programme had finally commenced, after a delay in the vessel arriving in Guyana due to weather in the Caribbean.CGX is a Canada-based oil and gas exploration company focused on exploration for oil in Guyana, South America.CGX holds an interest in four Production Sharing Licences from the Government of Guyana covering 8.7 million acres offshore and 800,Wholesale NFL Jerseys,000 acres onshore.A report completed by Gustavson Associates LLC of Boulder, Colorado, U.S.A. for CGX Energy Inc. had revealed that a best estimate of prospective resources in four prospects on the company’s Corentyne PPL located offshore Guyana may yield some 2.7B barrels of oil.Prospective Resources are regarded as the quantities of oil and gas estimated to be potentially recoverable from undiscovered accumulations, if discovered; they would be technically and economically viable to recover.In September last,Cheap Jerseys Authentic, the United Nations Arbitral Tribunal unanimously awarded Guyana close to a 13,Nike Air Max Cheap Wholesale,000 square-mile swath of the Atlantic Ocean, paving the way for Canadian firm CGX to continue oil exploration after it was evicted in 2000 by a Surinamese gunboat.The Arbitral Tribunal found that Suriname acted unlawfully when it expelled the CGX drilling rig which was licensed by Guyana in 2000.The tribunal was particularly critical of Suriname for resorting to the use of force in the eviction of the CGX oil rig. The ruling saw CGX retaining 93 per cent of its Corentyne Licence and all of its Georgetown Licence.
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