Tag Archives: CGX Energy

Capitol News – TV News Updates – 19 Dec 2013

Capitol News – TV News Updates – 19 Dec 2013

  • CGX donates 5 million dollars to educational institutions
  • Comprehensive approach to garbage disposal needed says GCCI
  • Company spreads holiday cheers in Buxton
  • Sports
  • Chamber of Commerce head condemns town clerk appointment process
  • Govt. seeks operator for Solid Waste Plan
  • Fly Jamaica adds direct Toronto to GEO destination
  • Sports
CGX donates 5 million dollars to educational institutionsPosted: 19 Dec 2013 03:55 AM PST

Comprehensive approach to garbage disposal needed says GCCIPosted: 19 Dec 2013 03:49 AM PST

While the garbage continues to pile up in and out of the city the president of the Georgetown Chamber of Commerce Clinton Urling is calling for urgent integrated, holistic solid waste management plan for the entire country.  Urling also see the holding of local government elections as critical to fix the many problems facing various […]   Continue reading

CGX releases new estimate for gas, oil in Corentyne licence

CGX releases new estimate for gas, oil in Corentyne licence

Stabroek News – March 30, 2013 

CGX Energy Inc. reported on March 21, 2013 that an independent resources evaluation has been completed by DeGolyer and MacNaughton of Dallas, Texas, USA (D&M) for six prospects on CGX’s Corentyne Petroleum Prospecting Licence (PPL) located offshore Guyana.
A release from CGX said that using probabilistic analysis, D&M has estimated a total best estimate Prospective Resources, as of December 31, 2012, for six oil and gas prospects of 779 million barrels of oil, 743 million barrels of condensate, and 6,943 billion cubic feet of sales gas plus 696 billion cubic feet of associated solution gas.   Continue reading

Rigs to Riches: A lesson for Guyana’s future?

Rigs to Riches: A lesson for Guyana’s future?

What Guyana does with the revenues from oil (and gas) will be important to its short and medium-term social stability and its longer-term economic prospects.

By Sir Ronald Sanders

BRIDGETOWN, Barbados, Thursday September 22, 2011 – Rigs to riches is the story of Norway’s rise from one of Europe’s backwater countries in 1969 to its position as one of the richest nations in Europe today.  How it achieved that status in just over 40 years could be a lesson for Guyana which is now on the brink of major oil exploration, discovery and production.

The Canadian company, CGX Energy, has recently announced that it is seeking to raise US$80 million, most of which will be used to fund its drilling activities within Guyana’s territorial waters.

CGX’s confidence in the possibilities of the Guyana drilling arises from the announcement by oil companies Tullow Oil PLC and Royal Dutch Shell PLC that they have opened up a new hydrocarbon basin offshore French Guiana with the discovery of a good quality oil reservoir from their first wildcat well.

Angus McCoss, Tullow’s exploration director, said the discovery is a “major step” because the geological system offshore Latin America is bigger than that of offshore Ghana.  He added,”There are at least half a dozen more of these Zaedyus type traps adjacent.”    more