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FM
Former Member
CGX spuds offshore well in Guyana after years of dispute

Thu Feb 9, 2012 4:20pm EST
Source

* Drilling delayed by territorial dispute in 2000
* CGX Energy may also start Eagle-1 well next week


GEORGETOWN, Feb 9 (Reuters) - Canada-based CGX Energy said on Thursday it had started drilling for oil off Guyana in the first offshore exploration in the country since a CGX rig was forced out of the area following a dispute with
neighboring Suriname.

CGX boss Stephen Hermeston said the Jaguar-1 well was drilled 107 miles (172 kms) off the Guyanese coast in the Georgetown Petroleum Prospecting License, which it shares with London-listed Tullow Oil, a division of Argentina's YPF, and Spain's Repsol.

"The spud of the Jaguar-1 well officially commences the long awaited resumption of offshore exploration drilling for the government and people of Guyana, the Georgetown Joint Venture Partners and CGX shareholders," he said in a statement.

The drilling will take about six months and aims to reach the Turonian geologic zone at a depth of 6,500 meters (21,300 feet). CGX Energy has a 25 percent stake in the Georgetown Petroleum Prospecting License. Tullow has 30 percent, as does YPF Guyana Ltd, and Repsol has a 15 percent interest.

In June 2000 a CGX oil rig was forced to leave the area after neighboring Suriname said it was operating in Suriname's territorial waters. A U.N. arbitration tribunal ruled in 2007 that the area belonged to Guyana.

CGX now has the Ocean Saratoga semi-submersible drilling rig offshore there and could begin drilling another well, Eagle-1, next week. Eagle-1 well is planned for CGX's 100 percent-owned and operated Corentyne Petroleum Prospecting License.

Guyana's natural resources minister, Robert Persaud, said the government was happy to see the drilling start. "We're cautiously optimistic that a positive result will see Guyana realize its petroleum potential," he said.

Venezuela, Guyana's much bigger neighbor to the west, has also quarrelled with Georgetown over its offshore waters.

Guyana asked the United Nations in September to extend its continental shelf toward an area where Venezuela has granted natural gas concessions to big companies.

Replies sorted oldest to newest

quote:
Originally posted by SuperMike:
Wonder why this thread did not grab the attention to all those Guyana haters here on GNI. Or only bad news in Guyana seems to attract these low life scum bags. D2 and his gang come in you creeps. cheers


I see that it grabbed your attention.
Please respond with something of substance.
FM
quote:
Originally posted by Celtic:
quote:
Originally posted by SuperMike:
Wonder why this thread did not grab the attention to all those Guyana haters here on GNI. Or only bad news in Guyana seems to attract these low life scum bags. D2 and his gang come in you creeps. cheers


I see that it grabbed your attention.
Please respond with something of substance.


if you want something of substance let me know ..i can come over and give it to you or yours in person..let me know,...bye wavey
FM
quote:
Originally posted by SuperMike:
quote:
Originally posted by Celtic:
quote:
Originally posted by SuperMike:
Wonder why this thread did not grab the attention to all those Guyana haters here on GNI. Or only bad news in Guyana seems to attract these low life scum bags. D2 and his gang come in you creeps. cheers


I see that it grabbed your attention.
Please respond with something of substance.


if you want something of substance let me know ..i can come over and give it to you or yours in person..let me know,...bye wavey


Just stick to the thread stop engaging in frivilous talk.
FM
quote:
Originally posted by Celtic:
quote:
Originally posted by SuperMike:
quote:
Originally posted by Celtic:
quote:
Originally posted by SuperMike:
Wonder why this thread did not grab the attention to all those Guyana haters here on GNI. Or only bad news in Guyana seems to attract these low life scum bags. D2 and his gang come in you creeps. cheers


I see that it grabbed your attention.
Please respond with something of substance.


if you want something of substance let me know ..i can come over and give it to you or yours in person..let me know,...bye wavey


Just stick to the thread stop engaging in frivilous talk.


just let me know ok...thanks much
FM






Mikie.....as we can see a lot of Development and posative things are now taking place since the Guyanese People decide to bring an end to the Jagdeo and Ramotar Arrogance ....
All dem Funny Fellas were humbled
and De PPP was reduced to a Minority Govt.

De Norway funds......which was locked off and kept out of Bounds from Jagdeo.....should be released soon and thats all good for Guyana.



De Funny Fellas had their hands tied since Nov 28.....it is no longer corrupt business - Jagdeo Style.


















We all have to work together and dont behave like "De Racist/Dotish Rabbai" who wan to get rid of the Guyana Flag and Coat of Arms.....
Mikie.....we know you mean well for your country......and like you.....we only want the best for Guyana.
FM
quote:
Originally posted by Cobra:
Jalil, why are you so bitter and off the record? ........Nonsense

Guyana is starting to drill for OIL which have never been done in your lifetime and .........When you find out this Oil Drilling has nothing to do with the PPP....Jagdeo.....or Ramotar.....what will you do?????

we must thank the minority president Donald Ramotar for making it happen. ...........De man who we have to thank......is SS Ramphal.....and Jagdeo thanking him up to now.

I only have thanks and praise while you and your neemakaram MP's is warming their seats in parliament.Bhai De Guyanese people decided them want to get rid of the Vultures......there is nothing Jagdeo or Ramotar can do about that.....You nor them cant change Parliament......or mek de PPP A MAJORITY GOVT.


Cobra you vex because de Guyanese people decide to get rid of de Vultures in Govt.....
KEEP CALLING MOSES OR AFC NEMAKARAM IS NOT GOING TO DO ANYTHING FOR THE PPP CAUSE.
FM

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