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CGX Announces Drilling of Jaguar-1 Well Offshore Guyana
CGX Energy Inc. (TSX VENTURE:OYL) ("CGX" or the "Company") is pleased to announce that the Jaguar-1 well located on the Company's 25% owned Georgetown Petroleum Prospecting License ("PPL") has commenced drilling. The partners to the Georgetown PPL are Repsol Exploración S.A (15%) ("Repsol"), as operator, along with YPF Guyana Limited (30%), Tullow Oil plc (30%) and CGX Resources Inc. (25%). The Jaguar-1 well will be drilled to a depth of 6,500 metres to test the Turonian geologic zone. The well is being drilled by the Atwood Beacon jack-up drilling rig operated by Atwood Oceanics, Inc. (NYSE:ATW), a long term leader in the offshore drilling industry. Drilling is expected to take approximately 180 days.

date.png10 Feb 2012 15:10 | comments.png 0 Comments | tags.png cgx guyana repsol tullow upstream [ More ]
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