Opportunity Knocks!!

 Updated 5/18/12

Oh, ye of little faith....

The COWARDS never started.

The WEAK died along the way.

Only the STRONG survive.

Where this Opportunity began. (for me)

Would you be willing to trade $1.00 (or less)US for $40.00 (or more) US?

 (and YES!, this is a rhetorical question)

While building a Barclays Bank inside the UN compound, in Accura, Ghana, I was asked by one of the Compound Guards to join him for lunch in their commissary.  Unable to participate in most of the conversations, the guard opened, folded and slid a English version of their newspaper over to me.  I think he took me for Canadian.  It was about the successful completion of a seven year long battle within the Court of International Territorial Dispute, between Suriname and Guyana in S.A. over who had the right to drill for oil within the Suriname Basin.  (The second most attractive unexplored field in the world.)  Guyana and a small wildcat oil drilling company from Canada prevailed.  CGX had been run out of the basin by Surinameize gunboats, provoking the International Legal intervention.

CGX Energy Inc. has announced that an independent resource assessment by Gustavson Associates LLC (Gustavson) of Boulder, Colorado, USA for three prospects on the company’s Corentyne offshore Petroleum Prospecting Licence (PPL) has indicated an estimated 2.8 billion barrels of oil off Guyana’s Corentyne shore.

If you have any questions?....Ask!!!

email;  securetag@aol.com

Latest (and relevent)news release from CGXEF


Not the dresults I was looking for, but not discouraged, just buying more.

CGX Provides Results of Eagle-1 Well Offshore Guyana

May 07, 2012

TORONTO

 May 7, 2012 /CNW/ - CGX Energy Inc. (TSX-V - OYL)
 
("CGX" or the "Company") announces the results of the drilling of the Eagle-1 well on the Company's 100% owned and operated Corentyne Petroleum Prospecting License ("PPL"), offshore Guyana. The Eagle-1 well reached total depth of 4,328 metres on April 25th in the upper Cretaceous Maastrictian geologic zone on an 8 ½ " diameter hole and with synthetic oil based mud drilling fluid. During drilling, the Eagle-1 well encountered oil and gas shows through the objective Eocene and Maastrichtian geologic zones and at the, yet to be confirmed, Oligocene zone indicating an active petroleum system where generated hydrocarbons have migrated through the pre-Miocene section drilled by the well. Although wire-line logs provided encouraging results with high resistivities correlating with sandstones that had encountered oil shows, additional open hole logs were necessary to determine the nature of the fluids in those zones. Hence, CMR (combinable magnetic resonance) and MDT (modular formation dynamics) were run and both logs identified the presence of good quality sandstone reservoirs. Further analyses will be conducted to verify the geological age of the drilled section as well as the chemical composition of the recovered fluids that unfortunately proved to be water bearing.

The Eagle-1 well was initially budgeted for 60 days of drilling but experienced weather delays and mechanical issues which extended operations for approximately an additional 30 days. The initial cost estimate for the Eagle-1 well was $55 million, however with the delays the Eagle-1 well is now estimated to cost $71 million. As a result, the Company will need to raise approximately $20 million in the near term.

The Jaguar-1 well on the Georgetown PPL in which CGX has a 25% interest with partners Repsol Exploración S.A (operator), YPF Guyana Limited and Tullow plc, continues. Total depth for the well is projected at 6,500 metres to test the Turonian geologic zone. The Jaguar-1 well was spud on February 9, 2012 and is expected to take 180 days. Drilling operations are progressing as planned.

Kerry Sully, President and CEO, stated, "Although the results of the Eagle-1 well are disappointing for all stakeholders, this test has gathered valuable information that will assist CGX with determining the drilling location for its next well to be drilled on the Corentyne PPL and for other future targets. The Company's geosciences team has been interpreting the recently acquired 3D and additional prospects have been identified. In addition, the team has established that the up-dip termination of our Eagle Deep Turonian prospect is at a shallower depth than originally anticipated. Now that the Eagle-1 well has finished drilling and in response to expressions of interest, CGX is re-opening the data room to re-start the joint venture process.

CGX Provides Update on Eagle-1 Well Offshore Guyana

02-21-12     08:46 ET - News Release

CGX ADDED TO Standard & Poors TSX VENTURE 30 INDEX AND RECOGNIZED BY TSX VENTURE FOR 2012 TSX VENTURE 50 RANKING

CGX Energy Inc.'s common shares have been added to the Standard & Poor's TSX Venture 30 Index, effective market open on Feb. 21, 2012. This is in addition to CGX being selected by the TSX Venture Exchange as a 2012 TSX Venture 50 company, a ranking of strong performers on the TSX Venture Exchange. "The 2012 TSX Venture 50 is made up of listed companies that have stood out and excelled," said John McCoach, president of the TSX Venture Exchange. "We are pleased to recognize these companies, and wish each of them continued growth and success."

February 13, 2012 08:00 ET

 CGX Commences Drilling Eagle-1 Well Offshore Guyana

 TORONTO, ONTARIO--(Marketwire - Feb. 13, 2012) - CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that the Eagle-1 well located on the Company's 100% owned and operated Corentyne Petroleum Prospecting License ("PPL") has commenced drilling. The Eagle-1 well will be drilled to a depth of 4,250 metres to test the Eocene and Maastrichtian geologic zones. The well is being drilled by the Ocean Saratoga semi-submersible drilling rig owned by a subsidiary of Diamond Offshore Drilling, Inc. (NYSE:DO), a leading drilling contractor with over 40 years of global drilling experience. Drilling is expected to take approximately 60 days.

Steve Hermeston, President and CEO commented, "Today marks a significant milestone in the history of CGX. We are returning to drill the Eagle prospect that was halted in June 2000 due to overlapping maritime border claims between Guyana and Suriname. Renewed exploration follows over seven years of dedication and co-operation between the Government of Guyana and CGX in resolving the Maritime Boundary between Guyana and Suriname peacefully and finally through the International Tribunal of the Law of the Sea (ITLOS) process. Following the resolution of the maritime border, CGX has shot two-3D seismic surveys, creating a portfolio of prospects on the Corentyne PPL, Eagle-1 being the first well to be drilled to test the original Eocene prospect, plus a deeper Maastrichtian prospect, both of which are stratigraphic tests. The current location will significantly benefit from the 3D acquired in conjunction with advances in better understanding the optimal position to test reservoirs deposited in deep water environments."

CGX Announces Drilling of Jaguar-1 Well Offshore Guyana
8:21a ET February 9, 2012 (Market Wire)

CGX Energy Inc. (TSX VENTURE: OYL) ("CGX" or the "Company") is pleased to announce that the Jaguar-1 well located on the Company's 25% owned Georgetown Petroleum Prospecting License ("PPL") has commenced drilling. The partners to the Georgetown PPL are Repsol Exploracion S.A (15%) ("Repsol"), as operator, along with YPF Guyana Limited (30%), Tullow Oil plc (30%) and CGX Resources Inc. (25%). The Jaguar-1 well will be drilled to a depth of 6,500 metres to test the Turonian geologic zone. The well is being drilled by the Atwood Beacon jack-up drilling rig operated by Atwood Oceanics, Inc. (NYSE: ATW), a long term leader in the offshore drilling industry. Drilling is expected to take approximately 180 days.

CGX Reports on Corentyne Drilling Deferral

Toronto, Ontario – CGX Energy Inc. (TSX-V: OYL) ("CGX") is pleased to announce that the Government of Guyana has granted a deferral for drilling of the Eagle-1 well offshore Guyana on the Company’s Corentyne Petroleum Prospecting License (the “Corentyne PPL”) to CGX Resources Inc. (“CGX Resources”), a wholly owned subsidiary of CGX. The deferral provides for the remaining minimum work program of the drilling of two exploration wells be completed by June 24, 2013.  CGX has a 100% working interest in the Corentyne PPL.  

Stephen Hermeston, President and CEO of CGX stated, “We are very pleased to have received this deferral.  As announced in our press release of November 29th, CGX Resources has contracted the Ocean Saratoga semi-submersible rig to drill the Eagle-1 well. The Ocean Saratoga is finalizing a work-over in the Gulf of Mexico and will be available early January for mobilization to the Guyana Suriname basin.  We are looking forward to announcing the commencement of drilling for this well.”


December 5, 2011
CGX Announces 3D Seismic Program for Corentyne PPL 

CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that its wholly owned subsidiary, CGX Resources Inc., has awarded a 1,160 square kilometre 3D marine seismic contract to a subsidiary of Petroleum Geo-Services (PGS). PGS's Ramform Challenger will undertake the five week contract commencing mid-December. 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. PGS offers a broad range of geophysical services and has 14 offshore seismic vessels.

CGX awards contract to drill it's Eagle-1 well 

CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that it has awarded a drilling contract to a subsidiary of Diamond Offshore Drilling, Inc. (NYSE:DO) ("Diamond") for the Ocean Saratoga semi-submersible drilling rig to drill the Eagle-1 well on the Company's 100% owned and operated Corentyne Petroleum Prospecting License ("PPL"), offshore Guyana. The Ocean Saratoga is currently performing a work-over in the Gulf of Mexico and will soon be available to drill the Company's Eagle-1 well. CGX is in discussions with Government of Guyana officials regarding timing for drilling. An announcement on mobilization and drill timing will be announced in a separate press release. 

 CGX Energy Inc. has announced that an independent resource assessment by Gustavson Associates LLC (Gustavson) of Boulder, Colorado, USA for three prospects on the company’s Corentyne offshore Petroleum Prospecting Licence (PPL) has indicated an off Guyana’s Corentyne shore.

 Diamond is a leading drilling contractor that owns and operates one of the largest fleets of offshore drilling units in the world and has operation bases in Houston, Perth, Australia, Macae, Brazil and Aberdeen, Scotland. Diamond has over 40 years global drilling experience and approximately 5,000 highly skilled employees worldwide.

Steve Hermeston, President and CEO commented, "The Company will be drilling two highly prospective wells offshore Guyana -- the Eagle-1 well that will appraise the Eocene and Maastrichtian geologic formations to an anticipated total depth of 4,300 metres and the Jaguar-1 well which will appraise the Turonian geologic formation to an anticipated depth of 6,500 metres. Our 100% Eagle-1 well is anticipated to take approximately 60 days to drill. The Jaguar-1 well, located on the Georgetown PPL, in which CGX has a 25% interest with partners Repsol Exploracion S.A (operator), YPF Guyana Limited and Tullow Guyana BV, will be drilled by the Atwood Beacon jackup rig as soon as it completes drilling for Inpex Corporation offshore Suriname. This drilling will mark the fruition of years of evaluation, preparation and cooperation between CGX and the Guyana Government and the onset of evaluating the petroleum potential of this highly prospective basin."

Pacific Rubiales announces investment in Guyana

7:45p ET October 13, 2011

 (PR NewsWire) Pacific Rubiales Energy Corp. (TSX:PRE; BVC: PREC) is pleased to announce that it has agreed to purchase 58,720,000 common shares in the capital of CGX Energy Inc. (TSX-V: OYL) ("CGX") at a price of C$0.70 per common share for an aggregate investment of C$41,104,000. CGX is a Canadian-based oil and gas exploration company focused on the exploration for oil in the Guyana/Suriname Basin, an area that is ranked second in the world for oil and gas prospectively by the United States Geological Service. For more information, please see CGX's website at www.cgxenergy.ca.

Ronald Pantin, Chief Executive Officer, commented "We are excited about this investment as it represents a step forward into offshore opportunities in one of the most prospective areas in the world."

The Company does not currently hold any common shares or other securities of CGX. Following completion of the offering, Pacific Rubiales will hold approximately 19% of the outstanding common shares (18% if an over-allotment option is exercised in full). In addition, the Company has agreed not to make any offers to purchase outstanding common shares or other securities of CGX for a period of 12 months without the prior consent of the board of directors of CGX.

 Guyana, Suriname maritime boundary dispute
http://www.ndp.sr/internationaal-20060107.htm



On October 14, 2008, CGX commenced a 536 sq km 3-D marine-seismic survey which was completed on December 10, 2008. The survey was carried out by Fugro-GeoTeam utilizing a dual-airgun 8 x 6,000 metre sold state streamer spread. The program was designed to cover the four prospects for which Gustavson Associates LLC calculated the total best estimate (P50) prospective resource to be 2.7 billion barrels of oil. Data quality obtained was excellent with minimal noise and provided clear images below 30,000 feet. The most significant leads are a series of structural traps in the Upper Cretaceous that we've called our Eagle Deep targets within our Corentyne License.

Do yourself a favor and follow the threads..!  This is a once in a lifetime opportunity for you to change your "Quality of Life" !!


http://cgxenergy.ca/

http://www.economist.com/node/9867990
 

http://cgxenergy.ca/documents/51-101GuyanaOffshoreReportJan03-08_001.pdf

http://oilbarrel.com/media/pub/var/release_downloadable_file/31241.pdf

The following are some of the events and reasons why I like this stock so much, why it "just seems to make sense", to me.

CGX Confirms Shareholder Rights Plan

Toronto, Ontario - CGX Energy Inc. (OYL -TSXV) ("CGX") is pleased to announce that its shareholders have confirmed the adoption of a shareholders rights plan (the "Rights Plan") designed to encourage the fair and equal treatment of shareholders in connection with any take-over bid for the outstanding securities of the Company.

The Rights Plan is intended to provide the Board of Directors with 60 days to assess a take-over bid, to consider alternatives to a take-over bid as a means of maximizing shareholder value, to allow competing bids to emerge and to provide the shareholders with adequate time to properly assess a take-over bid without undue pressure. The Rights Plan is similar to plans adopted by other Canadian companies and ratified by their shareholders. The Board of Directors of CGX is not currently aware of any pending or threaten take-over bid for the Company at present but believes the Company's shares are significantly undervalued.

• I believe Exxon/Mobil, Pacific Rubelias (who just bought 19% of this company) and Shell could enter into a bid battle for the PPL'S (Petroleum Prospecting License's). This, from an article I read, could push the cost per share over $100.00 a share and still be a "bargain" to the winner.
• All of the numbers I am working with are from over a year ago and oil was half of the current price.
• The estimates being used were established using a (P50) analysis.  (50%)

as of 11/22/11

CGXEF.PK's Top Competitors

CGXEF.PK $0.89 (0.06%) 

XOM $76.03 (-1.14%)
 PTR $125.10 (-0.29%)
RDS-B $69.25 (-1.30%)

Lets see....? where will CGX fit in ?


More to come...Count on it. 

Email; securetag@aol.com