Canadian firm CGX Energy Inc is to begin exploratory oil drilling in Berbice by the third quarter of the year with results of seismic samples collected recently helping to identify priority targets.
Announcing its intention via a press release yesterday, CGX whose rig was expelled from the Corentyne River a few years ago by Suriname gunboats, said that it has successfully completed field acquisition of 182 km of 2-D seismic.
According to CGX, the programme, conducted over ten weeks by local subsidiary ON Energy Inc. saw 22 leads covering 250-km identified on a recent survey.
Additionally, a 75-sample geochemical programme has been completed to supplement prior analysis, the release said.
Meanwhile, the annual general meeting of the Ontario-based CGX is to be held at the Toronto Board of Trade on June 24.