CGX announces seismic study offshore Corentyne

CGX Energy Inc has announced that its subsidiary CGX Resources has awarded a 1,160 square kilometre 3D marine seismic contract to PGS Ramform Challenger starting mid-month.

In a press release, CGX said the contract is for five weeks. PGS Ramform Challenger is a subsidiary of Petroleum Geo-Services (PGS).

President and CEO Stephen Hermeston said the 3D seismic programme has been designed to better image the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian  and to cover the two early Cretaceous, Albian prospects (Crabwood and Kabukalli) which are underlying the Company’s 100% owned Corentyne offshore Petroleum Prospecting Licence (PPL) and for which CGX has obtained an independent resources evaluation report from DeGolyer and MacNaughton of Dallas earlier this year that provided a total best estimate (P50) of prospective resources of 325 million barrels of oil.

“We are enthused about these prospects which CGX plans on pursuing subsequent to the drilling of the Company’s Eagle-1 well that will test the Eocene and Maastrichtian trend,” Hermeston said.

PGS is a leading geophysical services company founded in 1991 in Norway with offices in 25 countries and regional centres in London, Houston and Singapore. The company offers a broad range of geophysical services and has 14 offshore seismic vessels, the release noted.

Around the Web