Cgx Energy Inc. · TSXV:OYL
Cgx Energy — IEC 2023
16 slides from Cgx Energy's conference presentation, Feb 15, 2023
Slide 1: Wei-1 Well, Expanding the Kawa-1 Discovery and Unlocking the Guyana Shelf Slope
Wei-1 Well, Expanding the Kawa-1 Discovery and Unlocking the Guyana Shelf Slope: Geological and Operational Perspectives Contacts: Paul Langlois Exploration Manager planglois@cgxenergy.com Todd Durkee VP Development tdurkee@cgxenergy.com 1
Slide 2: Advisories
ADVISORIES This presentation includes "forward-looking statements", within the meaning of Canadian securities laws, which are based on the opinions and estimates of management of CGX Energy Inc. (CGX), that they expect will or may occur in the future, including with respect to the Kawa-1 and Wei-1 e
Slide 3: Wei-1: Commences the Corentyne Appraisal Programme
WEI-1: COMMENCES THE CORENYTNE APPRAISAL PROGRAMME Wei-1 Objectives • Wei-1 is Both an Exploration and Appraisal Well • Target Depth 20,500 ft • Seeks Comprehensive Evaluation of Reservoirs in Maastrichtian, Campanian and Santonian Well Update • Appraises Kawa-1 Discovery Area • Wei-1 Spudded Januar
Slide 4: The Kawa-1 Discovery
THE KAWA-1 DISCOVERY Hydrocarbons were encountered in multiple zones extending from 15,216’ in the Maastrichtian to 21,547’ in the Coniacian. 1 Essentially every sand encountered over this interval indicated the presence of hydrocarbons. 228 feet of net pay is associated with five primary zones. 2 I
Slide 5: De-risking of Wei-1
DE-RISKING OF WEI-1 WEI-1 Chance of Success Pre-Kawa Post-Kawa 29% 56% Kawa-1 Discovery: • Discovered Light Oil and Condensate • Proved Existence of Multiple Reservoirs • Confirmed Good Porosity at Depth • Enabled High Quality Seismic to Rock Type Calibration • Verified Geological Model 5
Slide 6: Wei-1 Drilling Optimization
WEI-1 DRILLING OPTIMIZATION Kawa-1 Wellbore Wei-1 Well Design 36” Drilling Advantages Wei-1 Project 22” • Actual Drilling Data vs Drilling Model • Optimized Efficient Well Design 18” • Enhanced Drill-Time Efficiencies • Robust Design Enabling Comprehensive Logging / Evaluation of All Pay Intervals 1
Slide 7: Basin Framework
Basin Framework 7
Slide 8: Shelf Development
SHELF DEVELOPMENT • Prograding Shelf Margin Basinward • North Corentyne Block is well Positioned at Base Maas / Camp of Slope Santonian Coniacian • Centralized in Albian Berbice Canyon Sediment Fairway 8
Slide 9: Source Rock: Mid-Cretaceous Reservoirs and the Canje Shale
SOURCE ROCK MID-CRETACEOUS RESERVOIRS AND THE CANJE SHALE Guyana Suriname WEI-1 KAWA-1 WEIO Corentyne Block Albian Channels N • Corentyne Sits Over Canje Shale Source Rock • Short Migration Distance from Source to Reservoirs 9
Slide 10: Shelf–Slope Deposition
SHELF–SLOPE DEPOSITION North Corentyne PGS • Cretaceous Sands Deposited Basinward via Berbice Canyon • North Corentyne Strategically Positioned at Slope Base 10
Slide 11: Shelf Development and Shelf Edge Model (Maastrichtian and Campanian)
SHELF DEVELOPMENT AND SHELF EDGE MODEL (MAASTRICHTIAN AND CAMPANIAN) Wei Kawa Guyana Suriname 11
Slide 12: Shelf Development and Shelf Edge Model (Santonian)
SHELF DEVELOPMENT AND SHELF EDGE MODEL (SANTONIAN) Wei Kawa Guyana Suriname 12
Slide 13: Shelf Development and Shelf Edge Model (Coniacian)
SHELF DEVELOPMENT AND SHELF EDGE MODEL (CONIACIAN) Wei Kawa Guyana Suriname 13
Slide 14: North Corentyne Western, Central, and Eastern Complexes
NORTH CORENTYNE WESTERN, CENTRAL, AND EASTERN COMPLEXES WESTERN COMPLEX EASTERN COMPLEX • Encountered Pay in Maastrichtian, Campanian, Santonian, and Coniacian • Wei-1 Well will Target Light Oil in Intervals Similar to Pay Zones in Kawa Discovery 14 • Three (Western, Central, and Eastern) Sand Compl
Slide 15: Summary
SUMMARY • Proximity to Regional Discoveries and Kawa-1 • Wei-1 Leveraging Kawa-1 Learnings • Wei-1 de-risked by the Kawa-1 Discovery • Drilling Efficiencies and Well Optimization • Veteran Operating Company with Decades of Experience in the Basin • Objectives of Wei-1 for Corentyne Block • Adding to
Slide 16: Our JV
Our JV Building A Solid Operation 16