CGX
holds three licences offshore Guyana stretching 400 km from the Venezuelan
border in the north to the Suriname border in the south
CGX
has identified with 2-D seismic five giant (> 500 mmbbl) targets offshore
CGX undertook a 2,375 sq km 3-D seismic program on its offshore Corentyne and Georgetown licenses
Gustavson independent report provides CGX with a P50 resource estimate of 2.8 billion barrels on three prospects on Corentyne Concession - click here to view a copy of the report
CGX has committed to drilling a well on its offshore Corentyne licence in the second half of 2010 and the Company has entered into the Second Renewal Period on its Georgetown License (Repsol 45%; Tullow 30%; CGX 25%) and is committed to drilling a well on the Georgetown License to meet the commitment of an exploration well during the Second Renewal Period
On its onshore license, CGX has identified 22 geochem anomalies
covering 250 sq km
We
hold 8.6 million gross acres; 6.9 million net - CGX is the 7th largest land holder in Latin America
