CGX Energy beobachten !

Oil companies start talks with Guyana

-International oil companies have started talks with the Guyanese government to begin exploration of a potentially oil- and gas-rich basin off the South American nation's coast, President Bharrat Jagdeo said Friday.


Spanish-Argentine company Repsol YPF and Toronto, Canada-based CGX Energy Inc. have met with Jagdeo to discuss exploring parts of the Guyana-Suriname Basin, an underwater area which industry experts have estimated may hold as much as 15 billion barrels of oil along with huge deposits of natural gas.

Jagdeo said he is eager to launch surveys after a ruling is issued under the U.N. Convention on the Law of the Sea on a long-running border dispute between Guyana and Suriname that once brought the nations close to military conflict and has blocked fuel exploration in the area.

"We are hoping that as soon as we have a ruling on the arbitration we may see exploratory activities in the particular block bordering Suriname," the Guyanese president said after a meeting with oil company representatives.

The U.N. maritime body has said it expects to give a ruling on the decades-old border dispute between the two South American neighbors around May.

Surinamese leaders could not immediately be reached for comment.

Guyana and Suriname have been locked in the dispute over ownership of hundreds of square miles (square kilometers) of untapped territory off South America's northeast coast. The disputed area is a triangle of water running from the nations' land border at the coast out to the limit of their territorial waters.

In recent years, the two countries strengthened their militaries after coming close to conflict in 2000, when Suriname sent two gunboats to the region and expelled CGX Energy, halting its oil exploration there under a Guyanese license.

The 15-member Caribbean Community intervened, holding five mediating sessions that failed to reach an agreement.

Guyana filed a claim for the area with the Hamburg, Germany-based U.N. maritime body in 2004. Suriname filed a counterclaim shortly afterward and a U.N. tribunal has been studying the case ever since  

Guyana is fired up about oil prospects

by David Rendwick

30-01-05 „So, since offshore oil potential is ruled out for the time being, you can imagine how excited the Guyanese are by the possibility that they may find oil onshore instead and that is where the resumed effort to discover hydrocarbons in one of the region's poorest countries is now to be concentrated.“
One could not blame the Guyanese for thinking that someone up there does not like them when constant rainfall, disastrous flooding and the evacuation of thousands of people all combine to smother what should be the real focus of attention in that luckless Caricom country these days-the resumption of the 89-year-long search for commercial oil deposits.
This was due to kick off any time now and it would not be at all surprising if the unfavourable weather situation had delayed the eagerly-awaited event.

As my three or four readers will know, Guyana, Caricom's headquarters territory, suffered a major setback when it tried to sink an exploratory oil well in June, 2000. This was to target a prospect called Eagle in the Corentyne block, 135 km offshore in the Atlantic Ocean. But before the CE Thornton jack-up rig could go into action, a gunboat from fellow Caricom state Suriname, appeared on the horizon and ordered the rig to depart, on the grounds that the waters in which it was operating were really part of Suriname's exclusive economic zone (EEZ), not Guyana's.
Suriname contended then, and is still contending, that the maritime boundary line between the two countries extends from the Corentyne River at an angle of ten degrees to the east, not 33 degrees, as Georgetown insists. That dispute is now before Unclos, to which it was referred by Guyana after it had apparently reached the limit of its patience with the non-existent pace of bilateral discussions.

So, since offshore oil potential is ruled out for the time being, you can imagine how excited the Guyanese are by the possibility that they may find oil onshore instead and that is where the resumed effort to discover hydrocarbons in one of the region's poorest countries is now to be concentrated.
The company involved is actually the same one that was frustrated in the Corentyne block-CGX Energy of Canada or, rather, its new Guyana subsidiary, ON Energy, in which Guyanese investors themselves hold 38 %. CGX's President and CEO Kerry Sully, a Canadian chemical engineer, has shown remarkable faith in Guyana's oil potential. Far from being deterred by the gunboat incident and the subsequent Horseshoe dry hole in the Corentyne block outside the disputed area, he has gone on to acquire the Corentyne Annexe Block, the Pomeroon block and a share in the Georgetown block.

Nothing has actually happened in any of that acreage for the cogent reason that it is all, with the sole exception of the Corentyne Annexe block, held captive to boundary disputes with either Suriname or Venezuela. Which only leaves the on-shore areas as the last resort for an exploration company like CGX and the Berbice block on land is where drilling was due to commence around this time.
Coming back on shore in a sense, brings Guyana full circle in its exploration effort because it was on land, not surprisingly, where its oil search first began. You will not be particularly taken aback to learn it was a Trinidad company, Trinidad Leaseholds, which was awarded the first oil prospecting licence, back in 1938 (though „freelance prospectors“ had started drilling in 1916, hence the 89-year time frame mentioned earlier) and it is a Trinidad company, Well Services, owned by the Brash family, that is operating the rig for the current Berbice drilling programme.

Following a 190 km 2D survey over the 764,500 acre block, eight separate drilling targets were identified of which five will be drilled immediately (weather and flooding permitting, of course). The exercise will cost around $ 7 mm, which Sully describes as "high" because of the need to "mobilise and de-mobilise drilling services into Guyana and the challenge of transporting drilling equipment and services to the drilling locations, some of which are located a significant distance from the road network." Like all experienced oilmen, Sully has entered a caveat about the likely outcome of the effort in Berbice.
"Drilling to date in Guyana, both on and offshore, has resulted in dry holes, so the probability of success is low," he warns. But he did point out in a recent conversation with yours truly that "the seismic showed us we have three or four potential zones per well, so we have multiple chances."

Wells drilled in the Tambaredjo and Calcutta fields next door in Suriname, which is separated from Guyana by the Corentyne river, have generally not penetrated beyond 1,000 feet. Since the Berbice wells will be deeper, varying between 4,000 to 6,000 feet, Sully notes that "we have about three times as much sediment as they do in Suriname, which is what gives us the potential for multiple zones as we go vertically." It was Suriname state oil company, Staatsolie's success with both Tambaredjo and Calcutta that tipped the scales in favour of CGX going onshore.
"After seeing the tremendous work Suriname had done we concluded that there were probably some good geologic elements onshore Guyana too," says Sully.

If the Berbice block finally provides the Guyanese with the oil they have long coveted, Sully says this will have the side benefit of making it easier for him to fund his offshore blocks once the border dispute with Suriname, at any rate, has been settled. (Venezuela's claim still hangs in abeyance, though President Chavez has made some encouraging sounds recently).
He notes that the majority of the offshore acreage in which CGX has an interest is, in fact, outside the waters in dispute. Even if Unclos declared in favour of Suriname, "we would still have a large portion of the Corentyne block within Guyana territory and would then be in a position to decide on our next move."  

News | Recent
 

November 27, 2007
CGX Energy Retains Jefferies Randall & Dewey



Toronto, Ontario - CGX Energy Inc. (OYL.U - TSX-V) is pleased to announce that it has retained Jefferies Randall & Dewey, a division of Jefferies & Company, Inc., as its advisor to market a joint venture opportunity on the Company's Corentyne Petroleum Prospecting Licence (PPL) located offshore Guyana.



"We are proceeding with our plans to shoot more than 500 square kilometers of 3D seismic on our Corentyne PPL to enhance our interpretation of our Eagle and Eagle Deep targets,'' stated Kerry Sully, President and Chief Executive Officer.  "We have funds in place to complete this ourselves, but our preference is to farmout the 3D seismic with a commitment to drill a deep exploration well. During the last year, CGX has received a number of unsolicited expressions of interest from international oil and gas companies regarding the possibility of participating in the exploration of the Corentyne PPL, pending the resolution of the maritime border between Guyana and Suriname . A binding resolution of the border was announced on September 20, 2007. We are encouraged by the level of interest that has been expressed and are confident that the experience and capabilities of Jefferies Randall & Dewey will bring added value to the process.''



Jefferies Randall & Dewey are advisors dedicated to the global energy industry, with offices in Houston , London and Calgary. Since 1989, Jefferies Randall & Dewey's team of experienced specialists, finance professionals, geoscientists and engineers have solved complex oil and gas business challenges around the world by combining sophisticated transaction knowledge with hands-on E&P expertise. In 2006 and to date in 2007, Jefferies Randall & Dewey was the number one ranked advisor by Thompson Financial and the company completed more than $17 billion of transactions through three quarters in 2007.   Jefferies Randall & Dewey has acted as financial advisor to such notable companies as EnCana, Anadarko Petroleum, Linn Energy and Plains Exploration and Production Company.  More information can be obtained by visiting their corporate website at www.jefferies.com.



The Company, with the assistance of Jefferies Randall & Dewey, is preparing a virtual dataroom of confidential information and plans to solicit joint venture proposals in the first quarter of 2008. However, there can be no assurance that the marketing process will result in any agreements or transactions.



CGX is a Canadian-based oil and gas exploration company focused on exploration for oil in Guyana , South America. CGX is managed by a team of experienced oil and gas and finance professionals from Canada, U.S.A. and the UK. CGX is financed internationally and has thousands of shareholders worldwide.  

 

Eagle—Giant Potential
Our Eagle target is named after Guyana's national bird, the Harpy Eagle—the largest bird in the world. Eagle is a turbidite fan, Oligocene in age (approximately 30 million years ago). It's at the updip edge of a large turbidite fan formation at the base of the former continental slope, which has subsequently prograded (been built seaward by sediment accumulation) NE about 20 miles (32 km). Eagle sits in shallow water of about 300 ft (90 m) and is 100 miles (160 km) from shore.

In 1974, Shell drilled the Abary#1 well, which is 6 miles (10 km) from Eagle. Abary #1, drilled to 13,091 ft (3990 m), encountered light 36° API oil in the mud system from a thin 23 ft (6 m) sand of similar age to our Eagle and Wishbone West targets. From our 1999 survey of Eagle, we observed positive AVO and amplitude anomalies on 9 strike lines and 2 dip lines. The potential reservoir is lens-shaped, covering an area of 29,000 acres (117 sq km), reaching about 9 1/2 miles (15 km) from the nose of the lens to the base and about 5 1/2 miles (9 km) across.  

 

Wishbone—Elephant Potential
          §Turbidite target just east of Eagle, in this 3-D representation of our 2-D seismic data, below, Eagle is at the right and Wishbone is at the left
          §Size—Very large structures: 15 km long and 7 km across, with gross thickness of approximately 600 ft. Wishbone is about 1/2 the size of Eagle, slightly more complex in vertical and areal deposition and bifurcated into 2 arms
          §Resource—we estimate the economic mean resources to be 400 mmbbls, with a similar geological risk to Eagle
          §The "threads" in the model are all actual seismic lines
          §The blue horizon shows the intersection of the oil-water contact with the Eagle fan, with hydrocarbon above the contact  

Symbole   Cours   Écart $   Écart en %   Quantité   Bourse*
OYL.U 3.330 +0.240 +7.77 169,049 V  

CGX may start offshore drilling at Corentyne in 2008


CGX Energy Inc may commence offshore drilling earlier than previously announced if all goes well with the finalisation of a joint venture/partnership arrangement.

The company has also announced that it has retained Jefferies Randall & Dewey, a division of Jefferies & Company, Incorporated, as its advisor to market the joint venture opportunity on its Corentyne Petroleum Prospecting Licence (PPL) located offshore Guyana.

Upon the settling of the maritime dispute with Suriname in September, the company signalled its intention to recommence its offshore activities.

At the time, CGX's President and CEO Kerry Sully had indicated that drilling should commence in 2009. But speaking to this newspaper on Friday from his Vancouver office, Sully said that if the company - in a joint venture effort - is able to procure a seismic rig earlier than expected, then the drilling may very well commence before 2009.

According to Sully, the company has not yet acquired a rig for its seismic work, which may cost as much as US$15 million. He said although rigs and related equipment were still in high demand, the situation was better than it was "last summer" now that there was a slowing down of drilling activities in the Gulf of Mexico.

Sully said the shooting of 500 square kilometres of 3D seismic before drilling made a lot of sense since this would accurately pinpoint the opportunities for oil better than the 2D seismic - done around 1999 - could have.

"We have funds in place to complete [the seismic work] ourselves, but our preference is to farm-out the 3D seismic with a commitment to drill a deep exploration well," Sully said on the company's website. He said too that during the last year, CGX had received a number of unsolicited expressions of interest from international oil and gas companies regarding the possibility of participating in the exploration of the Corentyne Petroleum Prospecting License (PPL), pending the resolution of the maritime border between Guyana and Suriname. "We are encouraged by the level of interest that has been expressed and are confident that the experience and capabilities of Jefferies Randall & Dewey will bring added value to the process.

"The Company, with the assistance of Jefferies Randall & Dewey, is preparing a virtual data room of confidential information and plans to solicit joint venture proposals in the first quarter of 2008. However there can be no assurance that the marketing process will result in any agreements or transactions."

He told this newspaper: "We remain very confident that the 3D seismic will yield positive results for drilling. We have a continuing dialogue with the Government of Guyana and with the Guyana Geology and Mines Commission (GGMC) and this is going very well."

In June 2000, a jack-up drilling rig leased by CGX from an American drilling contractor and operating under licence from the Government of Guyana was forced off its Eagle drilling location by Surinamese navy gunboats. Sully had said after the announcement of the decision that it was "extremely positive for CGX", as it concluded that 93 per cent of CGX's Corentyne Licence and 100 per cent of its Georgetown Licence fell in the territory awarded to Guyana.
 

CGX Energy (OYL.U-V, $3.68)
 CGX Energy holds 7.5 million net acres
in a prospective oil fairway in offshore
Guyana. Drilling expected in late 2009.
 **The "blue-sky potential" should not be considered as a target
price
"Blue-sky" refers to the fully unrisked upside potential associated
with
prospective resource estimates that inherently speculative.
CGX Energy OYL.U-V $3.65 $483.6 Guyana $25.00 High
Wellington West Capital Markets Stock Rating System  

mit 760 shs bedient  

um mal ausführlich zu sein - habe das aufgrund einer empfehlung eines börsenbriefs gekauft - da scheint es ggf bald meldungen zu geben bzw eines ölfundes - oder auch misserfolgs. bin mal gespannt, hab einfach mal ins blaue reingekauft.  

bin doch in nen andren wert gegangen - hab 2 cent je aktie gewinn... also etwa 8 euro :-)  

im eimer

http://www.ariva.de/news/...ly-and-Plugged-for-Safety-Reasons-4177586  

leider eine verfrüht falsche Bewertung bzw  comment  über  CGX  

Totgesagte leben oft  länger als man denkt du ""schlauer Fuchs""  !!

und Geduld zahlt sich doch öfter aus als man denkt, jedenfalls bei guter Recherche und

Hintergrundwissen ;  mal  allgemein gesagt,

CGX  hat nicht nur potential sonder wird von Tullow und anderen in der Region fleißig unterstützt.
Die politische und Lizenztechnische Frage dauert immer etwas länger.
Was für  Agents und Trader in diesem Segment nicht verwundert.

Es ist einiges in der Mache derzeit.
mehr in kürze.

mfg
Arriba  

Tradegate 6.000 0,151 € 0,245 € 6.000 62,25% !! Spread !!

Stuttgart 5.000 0,184 € 0,208 € 5.000 13,04%

Frankfurt 25.000 0,15 € 0,246 € 20.000 64,00% !! Spread !!

sorry,...aber der Schlusskurs an der TSX war gestern CAN$ 0,25, was ca. €0,19 entspricht

hier stimmt was nicht,..... daher sollte nach meiner ganz persönlichen Empfindung, der Börsenplatz Frankfurt, nicht zwingend für Käufe forciert werden,... nur eine persönliche Einschätzung und keinerlei Aufforderung zu jegwelchen Handlungsentscheidngen....
das Selbe gilt aktuell auch für Tradegate..... -meine ich- , darf aber jeder sehen wie er will

Quelle/n:
http://www.oanda.com/lang/de/currency/converter/
http://www.stockwatch.com/Quote/Detail.aspx?symbol=OYL&region=C
http://www.ariva.de/cgx_energy_inc-aktie/kurs  

Zitat:"
CGX Energy proposes 1:10 rollback

2013-05-10 18:49 ET - News Release

Ms. Charlotte May reports

CGX ENERGY PROPOSES SHARE CONSOLIDATION

CGX Energy Inc. has proposed the consolidation of its issued and outstanding common shares on a basis of 10 preconsolidated shares for each postconsolidation share, subject to shareholder approval and TSX Venture Exchange approval. The proposed consolidation is to be put before shareholders at the company's Annual and Special Meeting of shareholders to be held on June 26, 2013. The name of the company will not be changed in conjunction with the consolidation. ... " ende Zitat

Quelle:http://www.stockwatch.com/News/...2069002&symbol=OYL&region=C  

Soll mann wider einsteigen bei cgx