CGX finds no oil on first drilling exercise Details Published on Tuesday, 08 May 2012 01:49 Written by Super User [img alt=cgx logo]http://www.ncnguyana.com/ncngy/images/resized/images/cgx_logo_200_143.jpg[/img] CGX Energy Incorporated yesterday announced disappointing results from its Eagle-1 well after reaching a depth of 4,328 metres on April 25.
CGX has assured that further analyses will be conducted to verify the geological age of the drilled section and the chemical composition of the recovered fluids. President and CEO, Kerry Sully stated that although the results are disappointing for all stakeholders, the test has gathered valuable information that will assist CGX in determining the drilling location for its next well.Meanwhile, drilling with the Jaguar-1 well continues and a total depth of 6,500 metres is projected to test the turonian geologic zone and to date operations are progressing as planned. The Jaguar-1 well was spud on February 9 last with 180 days estimated to complete drilling
CGX has assured that further analyses will be conducted to verify the geological age of the drilled section and the chemical composition of the recovered fluids. President and CEO, Kerry Sully stated that although the results are disappointing for all stakeholders, the test has gathered valuable information that will assist CGX in determining the drilling location for its next well.Meanwhile, drilling with the Jaguar-1 well continues and a total depth of 6,500 metres is projected to test the turonian geologic zone and to date operations are progressing as planned. The Jaguar-1 well was spud on February 9 last with 180 days estimated to complete drilling
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