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CGX ENERGY INC. AND FRONTERA ENERGY CORPORATION PROVIDE OPERATIONAL UPDATE ON KAWA-1 EXPLORATION WELL, OFFSHORE GUYANA
CGX ENERGY INC. AND FRONTERA ENERGY CORPORATION PROVIDE OPERATIONAL UPDATE ON KAWA-1 EXPL...
About this update from Cgx Energy Inc.
[{"type":"text","content":"\n \n \n \n CGX ENERGY INC. AND FRONTERA ENERGY CORPORATION PROVIDE OPERATIONAL UPDATE ON KAWA-1 EXPLORATION WELL, OFFSHORE GUYANA\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n LOGGING-WHILE-DRILLING AND CUTTINGS INDICATE PRESENCE OF ACTIVE HYDROCARBON SYSTEM IN SEVERAL CAMPANIAN AND UPPER SANTONIAN FORMATIONS\n \n \n \n \n APPROXIMATELY 90% OF PLANNED FOOTAGE DRILLED TO DATE\n \n \n \n \n HORIZON 19, THE FIRST OF THREE GEOLOGICAL TARGET ZONES HAS BEEN PENETRATED\n \n \n \n \n THE PRIMARY AND SECONDARY SANTONIAN TARGETS REMAIN\n \n \n TO BE DRILLED AND EVALUATED\n \n \n \n \n TORONTO\n \n ,\n \n Dec. 16, 2021\n \n /CNW/ - CGX Energy Inc. (TSXV: OYL) (\"\n \n CGX\n \n \") and Frontera Energy Corporation (TSX: FEC) (\"\n \n Frontera\n \n \"), the majority shareholder of and joint venture partner of CGX in the Petroleum Prospecting Licenses for the Corentyne and Demerara blocks offshore\n \n Guyana\n \n (the \"\n \n Joint Venture\n \n \"), today provide an operational update on the Kawa-1 exploration well in the Corentyne Block, offshore\n \n Guyana\n \n .\n \n \n To date, approximately 90% of the planned footage has been drilled and the initial results suggest an active hydrocarbon system is present at the Kawa-1 location. Horizon 19, the first of three geological zones targeted by the Joint Venture, has been penetrated. Logging-While-Drilling and cuttings indicate the presence of hydrocarbons in several Campanian and upper Santonian formations. The Joint Venture will run the planned 9 5/8\" liner at current depth, then drill ahead to the main Santonian target zone (Horizon 23) and the deeper secondary Santonian target zone (Horizon 25). The initial geological results will be further evaluated by wireline logging at the end of the well as part of the logging program for the deeper zones.\n \n \n The Joint Venture is pleased to report that drilling operations have recorded only a single lost time injury since August and Covid-19 protocols have resulted in no disruptions to operations and no posi...