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CGX and Frontera Discover 210 Feet of Hydrocarbon-Bearing Sands in the Santonian Confirmed By Wireline Logs and Extensive Core Samples at the Wei-1 Well, Offshore Guyana
CGX and Frontera Discover 210 Feet of Hydrocarbon-Bearing Sands in the Santonian Confirmed By Wir...
About this update from Frontera Energy Corporation
[{"type":"text","content":"\n \n \n \n CGX and Frontera Discover 210 Feet of Hydrocarbon-Bearing Sands in the Santonian Confirmed By Wireline Logs and Extensive Core Samples at the Wei-1 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 Second Discovery on the Corentyne Block Following Kawa-1 Light Oil and Condensate Discovery in 2022\n \n \n \n \n Successfully Finished Drilling Operations With No Safety Incidents\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 28, 2023\n \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 CGX and joint venture (the \"\n \n Joint Venture\n \n \") partner of CGX in the Petroleum Prospecting License for the Corentyne block offshore\n \n Guyana\n \n (the \"\n \n License\n \n \"), are excited to announce today that the Joint Venture has discovered oil at the Wei-1 well, on the Corentyne block, approximately 200 kilometers offshore from\n \n Georgetown\n \n ,\n \n Guyana\n \n . The Joint Venture has successfully finished drilling operations without any safety incidents and expects to release the drilling rig in early\n \n July 2023\n \n .\n \n \n The Wei-1 well encountered 210 feet of hydrocarbon bearing sands in the Santonian horizon. The Joint Venture acquired wireline logs and extensive core samples from the Santonian, however, due to a tool failure downhole and a new tool not being available, oil samples were not obtained. The rock and fluid properties of the Santonian will now be analyzed by an independent third-party laboratory over the next 2-3 months to define net pay and a basis for the evaluation of this interval.\n \n \n The Joint Venture has updated its previously announced discovery in the Maastrichtian and the Campanian intervals to 77 feet of net pay. Fluid samples were retrieved from the Campanian and Maastrichtian indicating the presence of light crude in the Campanian and sweet medium crude oil in the Maastrichtian.\n \n \n The Joint Ve...