CGX Energy Inc. announce that shooting of the 536 sq km 3D seismic survey on CGX’s 100% Corentyne Petroleum Prospecting Licence (PPL) has been completed. In the Georgetown PPL, in which CGX holds a 25% interest, the survey has been expanded by 200 sq km to 1,850 sq km. The Georgetown survey has been shot in parallel with the Corentyne and is expected to be completed after the New Year.
Kerry Sully, President & CEO stated, “CGX Energy’s share of the combined program is estimated to be $16 million, including this seismic. The Company’s Board of Directors has approved a capital program for the period ending September 2009 of $18 million. Additional items will include seismic interpretation, well drilling design and an environmental assessment study. These items will be funded by CGX from existing working capital that at the end of September 2008 was approximately $35 million.”
CGX Energy Inc. is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana basin. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, USA and the UK. CGX is financed internationally and has shareholders worldwide.
Additional information on CGX Energy may also be examined and/or obtained through the internet by accessing CGX Energy’s website at www.cgxenergy.com
No comments:
Post a Comment