Cgx Energy Inc. · TSXV:OYL
Cgx Energy — Investor Presentation (March 2023)
35 slides from Cgx Energy's investor presentation, March 2023
Slide 1: Corporate Presentation: Exploring for Oil & Gas in Guyana
Corporate Presentation Exploring for Oil & Gas in Guyana March 2023
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation includes "forward-looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual e
Slide 3: Company Overview
Company Overview • CGX Energy Inc.(TSX-V:OYL) is an oil and gas exploration company focused on the Guyana Basin E&P opportunities and construction of a Deep Water Port on the Berbice River. • Headquartered in Toronto, Canada with operational offices in Houston, USA and Georgetown, Guyana. • CGX Ener
Slide 4: Company Overview (corporate structure)
Company Overview CGX Energy Inc. (Ontario) 100% 100% 100% 62% CGX Energy CGX Resources GCIE Holdings ON Energy Inc Management Inc. (Bahamas) Ltd. (Barbados) (Guyana) 1 Corp. (Delaware) 100% 100% CGX Resources Grand Canal Inc. (Guyana Industrial Estates Registered Inc. (Guyana) Branch) 32% 100% Coren
Slide 5: CGX at a Glance
CGX at a Glance • The Company has a strong balance sheet with no existing long-term debt and has a carry on the Wei-1 exploration well, following the completion of a farm-out agreement with Frontera Energy Corp. (FEC) on July 21, 2022. • The Company recorded a discovery on the Corentyne block at the
Slide 6: Corentyne Acreage and Activity
Company E&P Overview Corentyne Acreage and Activity Corentyne Block In and Around Recent Discoveries CGX Offshore Acreage Position • Corentyne block 845,715 acres • Approved appraisal area 246,364 acres CGX 1 Well Drilled in 2000 • Horseshoe Well – Successfully and Safely Operated 1st Offshore Well
Slide 7: Guyana Basin E&P
Guyana Basin E&P Derisking Basin with Discoveries • Stabroek block • Liza was the first commercial discovery of Oil and Gas in Guyana in May 2015 • Since, over 11 billion barrels of recoverable oil equivalent have been discovered, with billions of barrels of undrilled potential • 34 major oil discov
Slide 8: Corentyne Geologic Setting
Corentyne Geologic Setting Reservoir Development Schematic Fan Lobe Deposition in the North Corentyne Region North Region Corentyne Turbot, depositional Longtail, etc environment STABROEK Lau Lau BLOCK 58 BLOCK Lukanani Haimara Pluma WEI-1 KANUKU BLOCK KAWA-1 The “Berbice Canyon” carried sand into A
Slide 9: CGX Energy – Offshore Activity Map
CGX Energy – Offshore Activity Map Exploration Activity Adjacent to Northern Region Corentyne Northern Region Corentyne is surrounded by recent discoveries in several Cretaceous Suriname • TD 16,443 ft (WD 3,339 ft)horizons SEABOB (2022): KIRU KIRU (2022): PLUMA (December 2018): SAILFIN (October 202
Slide 10: Guyana Basin Exploration
Corentyne Block Summary and Highlights Guyana Basin Exploration Guyana Basin Early Stages of Exploration Guyana Deepwater Discoveries • CGX has state-of-the-art 3D seismic acquired over the northern region of its Corentyne block • Provided enhanced look at Corentyne prospectivity, in view of discove
Slide 11: Corentyne Block Northern Region Exploration: Kawa-1 Results
Corentyne Block Northern Region Exploration Kawa-1 Results An active hydrocarbon system has been proven to extend over 6000 ft of depth, with preservation of good porosity at depth, and 228 feet of log pay. 36” Highlights of gross pay intervals are displayed. Hydrocarbon type mirrors regional trends
Slide 12: Santonian Channel Complex Pay Intervals
Northern Region Corentyne Kawa Discovery Santonian Channel Complex Pay Intervals • Kawa-1 targeted Horizon 19 and found numerous stacked off-axis sand packages as part of thick eastern channel complex • Two sand packages were identified in the channel complex: Horizon 18 and 19 • Presence of good po
Slide 13: Northern Region Corentyne 3D Seismic Survey
Northern Region Corentyne 3D Seismic Survey Large Sand Complexes Map view Wei-1 RMS Seismic Attribute Illustrating Sand Corentyne’s Large Channel Complexes Wei Complexes of Northern Region Corentyne • Kawa Eastern Complex Discovery: • Multi-stacked pay intervals • Proximity to adjacent block oil dis
Slide 14: Northern Region Corentyne Prospectivity
Northern Region Corentyne Prospectivity Large Sand Complex Objectives Channel complexes of Northern Region of Corenytne Wei-1 Central Kawa-1 WESTERN COMPLEX EASTERN COMPLEX • Wei-1 targets light oil in intervals • Kawa-1 reached TD 1Q’22 similar to pay zones in Kawa-1 • Pay identified in Maastrichti
Slide 15: Northern Region Corentyne Exploration: Wei-1 Well
Northern Region Corentyne Exploration Wei-1 Well OPPORTUNITY HIGHLIGHTS • Multiple Targets (Maastrichtian, Campanian, and Santonian reservoirs) • Seasoned team with decades of deep-water experience • Kawa-1 significantly de-risked Wei-1 (14km apart in northern region of Corentyne block) • Proved hyd
Slide 16: Northern Region Corentyne Exploration: Additional Prospectivity
Northern Region Corentyne Exploration Additional Prospectivity Western Complex Central Complex Eastern Complex Central Complex Corentyne Expansion • Multi-stacked pay intervals identified • Reduced risk by Kawa-1 and Wei-1 • High-quality seismic to rock type substantiated • Promoted by amplitude ana
Slide 17: Well Design Advancements
Well Design Advancements Improvements and Advantages Kawa-1 Wellbore Wei-1 Well Design Drilling Advantages Wei-1 vs Kawa-1 36” • Wei-1 shallow sections maintain similar design & operational procedures as Kawa 22” • Increased base case casing design; adding 16” liner at Wei equivalent to Kawa’s 13-5/
Slide 18: Basin Upside Potential
Basin Upside Potential Guyana and Suriname Guyana-Suriname Basin significantly de-risked with discoveries adjacent to the CGX offshore block • Kawa-1 discovery significantly derisked the northern region of the Corentyne block • Suriname discoveries since 2020 (Maka Central, Sapakara West, Kwaskwasi,
Slide 19: Grand Canal Industrial Estates (GCIE)
Grand Canal Industrial Estates (GCIE) Company Details Berbice Deep Water Port • Grand Canal Industrial Estates Inc. incorporated in Guyana June 30, 2010 • Office registered at 234 Lance Gibbs and Irving Streets, Georgetown • Principal objectives are to build and operate the Berbice Deep Water Port o
Slide 20: GCIE Vision
GCIE Vision Berbice Deep Water Port Multi-Service Port Oil and Gas Exploration and Production Services Commodity Import/Export Regional Shipping Phase 1 and Phase 2: 2023 • 45m x 30m wharf platform build-out, channel access via a 49m long x 12m wide trestle • Access channel intended draft 7m and bas
Slide 21: Berbice Deep Water Port in Guyana
Berbice Deep Water Port in Guyana Factors Motivating • Two functional Commercial Oil and Gas Ports available in Guyana • Berbice Port located East of Georgetown Harbour • Strong desire for local ports in region • New port being built on Demerara River • Congested Georgetown Harbour has little room f
Slide 22: GCIE Near Term – Phase 1 & 2 Objective
GCIE Near Term – Phase 1 & 2 Objective 2023 Build and operate initial phase of the Berbice Deep Water Port to service the highly active offshore oil and gas exploration industry and agricultural sector in the Guyana-Suriname Area • 45x30 meter wharf platform and 49x12 meter approach trestle from sho
Slide 23: Targeted Expansion
Berbice Deep Water Port Expansion 2024 – 2025 Targeted Expansion Oil and Gas Exploration and Production Services Agricultural Export Commodity Import/Export Regional Shipping www.cgxenergy.com 23
Slide 24: GCIE Site Advantages
Grand Canal Industrial Estates (GCIE) Site Advantages GCIE Selection Criteria for Site Location (Shore-base and Port Facility) • Berbice River is one of three major rivers in Guyana, spanning 600 km long, and 2.3 km wide at project location • Berbice River channel was dredged and maintained at a dep
Slide 25: GCIE Site Advantages
Grand Canal Industrial Estates (GCIE) Site Advantages In 2010, Guyana Lands and Surveys Commission, in its land use planning map for Region 6, listed the area for development of a Deep-sea Port, New Airport Runway of 1.2km, and an Industrial Park • The GCIE location can service import/export of agri
Slide 26: Berbice Deep Water Port Project Status Update
Berbice Deep Water Port Project STATUS UPDATE www.cgxenergy.com 26
Slide 27: Access Bridge
Access Bridge Contract Summary Component Name: Construction of Access Bridge Progress: 100% Completed Timeline: 6th April 2021 to 23 rd December 2021 Contractor: Home Designs Engineering Associates (Berbice) Particulars: Connects Corentyne highway to access road Specifications - 40 tons per axle cap
Slide 28: Water to Port
Water to Port Contract Summary Specifications Component Name: Water to Port - 2.7km of 150mm Pipeline Progress: 100% completed - Installed to GWI specifications Timeline: 4 October 2021 to 15 th November 2021 th - Verified and approved by GWI Contractor: Mohamed Ahmad Construction Works (Berbice) ww
Slide 29: Quayside Laydown Yard
Quayside Laydown Yard Contract Summary Specifications Component Name: Quayside Laydown Yard - 5 tons per sq meter (load capacity) Progress: 100% completed - 200 meters x 200 meters Timeline: 10th June 2021 to 15 th July 2022 - 40,000 square meters Contractor: BK International Inc. www.cgxenergy.com
Slide 30: Rip Rap Flood Protection
Rip Rap Flood Protection Contract Summary Specifications Component Name: Rip Rap Flood Protection - 400m Rip Rap flood protection Progress: 100% completed - 56m Northern flood protection Timeline: 10th June 2021 to 5 th August 2022 - 20m Southern flood protection Contractor: BK International Inc. ww
Slide 31: Power to Port
Power to Port Contract Summary Component Name: Power to Port Progress: 100% completed Timeline: 16 October 2020 to 15th December 2021 th Contractor: Guyana Power and Light Inc. Specifications - 70 KVA transformer - Installed by GPL - 3-phase capacity with stepdown to 110/220 2-phase www.cgxenergy.co
Slide 32: Access Road to Port Site
Access Road to Port Site Contract Summary Component Name: Seawell Road Rehabilitation Progress: 100% completed Timeline: 5 November 2020 to 2 nd February 2022 th Contractor: KP Jagdeo General Contractors (Berbice) Specifications - ASHTO Standards - 2.6 km from access bridge to port site - 5 m wide w
Slide 33: Concrete Drain and Residents' Concrete Bridges
Concrete Drain and Residents’ Concrete Bridges The First 200 meters of the access road, adjacent to the Seawell village residents, was fully paved with the construction of a concrete drain and concrete bridges for each resident. The contract for Access Road was amended to include this component. Spe
Slide 34: Access Trestle Construction
Access Trestle Construction Contract Summary Component Name: Construction of Access Trestle Progress: 59.45 %completed Timeline: November 2022 to May 2023 Contractor: GAICO Construction and General Services, Inc. Specifications - 49m x 12m - Uniform distribution load (50 kN/m2) 34
Slide 35: Thank You
Corporate Office 333 Bay Street, Suite 1100 Toronto, ON, Canada M5H 2R2 +1 (416) 364-5569 Guyana Office Houston Office 234 Lance Gibbs and Irving 810 Highway 6 South, Suite 240 Streets, Queenstown, Houston, TX, USA 77079 Georgetown, Guyana +1 (832) 300-3200 +011 (592) 227-0521 Thank You