In the light of recent Hydrocarbon finds by ExxonMobil, Canadian oil exploration company CGX Energy Inc is seeking support to intensify its exploration efforts on the Corentyne block in the Guyana-Suriname Basin.
The company, which has been involved in explorations in the area for 18 years, says it is “very encouraged” by the recent discoveries by ExxonMobil on the Stabroek Block located immediately adjacent to the Corentyne block and intends to spend in excess of US$320 million over the next few years in its attempt to locate commercially viable deposits in what it refers to as a “proven hydrocarbon system.”
Professor Suresh Narine, Co-Chairman of the company, explained to interested persons gathered at Cara Lodge on Friday that CGX will be exploring in the same geometrical formations that have spawned the Exxon discoveries as well as those by explorations offshore of
