Last Price




Open Price




Prev. Close


Regional News

August 15, 2005
Sadhna Petroleum Awarded License in Guyana

Sadhna Petroleum and Production (Guyana) Inc. is a subsidiary of Sadhna Petroleum Services Company Ltd., a Trinidad based petroleum services company which conducts petroleum operations in Trinidad and Suriname. The contract area is approximately 2,000 square kilometers and is located in the coastal and near-shore environment immediately west of the ON Energy Contract Area in Berbice.

Sadhna will rely on regional scale, remote surveys to develop a focused program for the newly awarded Contract Area. Technical Works is continuing to add to the geoscientific database so that the proposed exploration well could be drilled as early as 2nd Quarter 2006.

Discussions and negotiations between the Government and Sadhna resulted in terms and conditions agreeable to both parties and the Petroleum Prospecting License awarded is initially for up to four (4) years. The Production Sharing Agreement pursuant to the License is based on provisions of the Government's mining and petroleum policy; consistent with petroleum legislation; and provides for compliance with the provisions of the Environmental Protection Act of Guyana.

As with all companies exploring for petroleum in Guyana, rentals, fees and charges are receivable annually during the License term. In the event of a commercial discovery leading to production, the Government shall receive 50% of the profit share. There will be employment opportunities, goods and services to be provided by Guyanese when work activities commence.


Oct 10, 2014

CGX Energy Announces Bridge Loan and Ope...

Sep 22, 2014

CGX Energy Announces 3D Seismic Survey a...


Jun 25, 2014

2013 Annual General Meeting

Mar 12, 2014

Corporate Presentation

CGX at a Glance