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CGX And Frontera Announce Light Oil And Gas Condensate Discovery At The Kawa-1 Exploration Well, Offshore Guyana
228 Feet (69 Metres) Of Net Pay Identified Across The Maastrichtian, Campanian, Santonian ...
About this update from Cgx Energy Inc.
[{"type":"text","content":"CGX And Frontera Announce Light Oil And Gas Condensate Discovery At The Kawa-1 Exploration Well, Offshore Guyana228 Feet (69 Metres) Of Net Pay Identified Across The Maastrichtian, Campanian, Santonian And Coniacian Horizons Third-Party Analyses Indicate Light Oil In Santonian And Coniacian, Gas Condensate In Maastrichtian and CampanianKawa-1 Findings Are Consistent With Discovery Wells Reported By Other Operators Adjacent To The Corentyne BlockAdditional Potential Exists In The Central Channel Complexes Between Wei-1 And Kawa-1 And Is The Focus Of Ongoing Technical WorkKawa-1 Results De-Risk Equivalent Oil Targets Anticipated At The Wei-1 Exploration Well, Expected To Be Spud In 3Q'22Toronto, Ontario--(Newsfile Corp. - May 9, 2022) - CGX Energy Inc. (TSXV: OYL) (\"CGX\") and Frontera Energy Corporation (TSX: FEC) (\"Frontera\"), joint venture partners (the \"Joint Venture\") in the Petroleum Prospecting License for the Corentyne block offshore Guyana, today announced integrated results from the Kawa-1 exploration well, offshore Guyana. The Kawa-1 well was drilled in water depth of approximately 355 metres (1,174 ft) to a total depth of 21,578 feet (6,577 metres) in the northern portion of the Corentyne block. \"The Joint Venture is pleased to announce that it has successfully discovered light oil in the Santonian and Coniacian and gas condensate in the Maastrichtian and Campanian at the Kawa-1 exploration well, offshore Guyana,\" said Gabriel de Alba, Chairman of Frontera's Board of Directors and Co-Chairman of CGX's Board of Directors. \"The Kawa-1 discovery adds to the growing success story unfolding offshore Guyana and the integrated Kawa-1 well results further support our belief in the potentially transformational opportunity the Joint Venture has in one of the most exciting basins in the world.\"The joint venture encountered hydrocarbons in multiple zones extending from 15,216 feet (4,638 metres) in the Maastrichtian to 21,547 feet (6,568 metres) in the Coniacian. Essentially every sand encountered over this interval indicated the presence of hydrocarbons. A total of 228 feet (69 metres) of net pay was found distributed throughout the Maastrichtian (68 feet/21 metres), Campanian (66 feet/20 metres), Santonian (76 feet/23 metres) and Coniacian (18 feet/5 metres) horizons with individual pay zones up to 35 feet (11 metres) t...