CGX Energy Inc. and its subsidiary, ON Energy Inc. yesterday announced that the 2-D seismic survey it is currently doing in Guyana is "well underway".
CGX Energy Inc., a Canadian-based oil and gas exploration company, also indicated that preparation for the fieldwork began in late March, and to date, nearly half of the 180km programme has been cut and surveyed.
In a statement issued yesterday, CGX said training for portable drilling operations started in the second week of April, including sessions on health, safety and the environment for over 100 crewmembers. To date, just over 10% of the 'shot holes' have been completed, it said.
"On April 21, CGX recorded the first seismic images on the coast of Guyana since the 1940's," stated Warren Workman, Vice President of Exploration. "The data quality was good and we're very pleased with the progress we've seen thus far. Recording is expected to continue through May, with processing and interpretation scheduled for June," he added.
CGX noted that the geo-microbial survey completed in October identified more than 20 anomalous leads, one of which is approximately 40 square kilometers in a real extent.
It said the 2-D seismic programme is planned to identify the depth and location of the potential reservoirs that could contain hydrocarbons that are associated with most of the anomalies.
The Canadian-based company also said that Seis Pros Inc. of Houston, Texas is completing the 2-D programme on the Berbice Block.
The company said it plans to drill a number of exploration wells to test seismically defined anomalies, following interpretation of the seismic.
CGX Energy Inc is focused on the exploration for oil in the Guyana basin and is actively looking at other international opportunities.
The company contended that it is managed by a team of experienced oil and gas and finance professionals from Canada, United States and the United Kingdom. CGX is financed internationally and has over 5,000 shareholders worldwide.