Last Price

0.50

Change

N/A

Open Price

0.47

Volume

17,253

Prev. Close

0.50

Regional News

August 15, 2011
Repsol's drilling in Guyana further delayed
Guyana Times

Repsol Guyana Incorporated has again reported a delay of its operation for oil drilling here and is still awaiting word on a date when the oil rig from Suriname will be transported.

Repsol, an operator working under a consortium, which is licensed to explore for petroleum offshore Guyana is still preparing for the arrival of the oil rig, which is still in Suriname.

Manager of the Petroleum Division at the Guyana Geology and Mines Commission (GGMC), Newell Dennison told Guyana Times, that the drilling will be delayed again to maybe until later this year.  Dennison explained that the drilling was initially scheduled to begin during May of this year and was delayed until August.

To date the oil company is still waiting for operations to wrap up in Suriname, which can take months before it is completed.

Dennison noted that only when that is completed, drilling in Guyana would be able to begin. The GGMC official pointed out that because Repsol is committed to rig sharing, which is part of an agreement with Suriname it cannot abort operations there. The company is however expected to start drilling for oil in Guyana at a time yet to be determined.

The exploratory ‘ Jaguar 1’ oil well to be drilled offshore Guyana, will be the deepest oil well ever drilled in the region, at a depth of four miles, officials of Spanish oil giant has said.

The drilling operations will be carried out by the Atwood Beacon, a jack up rig which is the only suitable equipment for such intense drilling, in the region. Repsol opened office in Guyana last November and had promised to perform a successful operation when drilling begins.

News

Aug 28, 2014

CGX Energy Announces Order from High Cou...

Aug 18, 2014

CGX Energy Provides Operational Update

Presentations

Jun 25, 2014

2013 Annual General Meeting

Mar 12, 2014

Corporate Presentation

CGX at a Glance