CGX Resources Inc. (CRI), which operates the Corentyne Block offshore, will be hosting a supplier workshop for all Guyanese nationals and companies on June 21, 2023 at 10 am via an online platform. The aim of the workshop is to build the capacity of Guyanese companies interested in supplying goods and services to CRI.

It will be presenting on areas such as procurement process, qualification criteria, bid evaluation criteria, performance standards and payment terms.

All Guyanese interested in supplying goods and services for CRI are invited to register by sending their name and contact information for one representative to [[email protected]](mailto:[email protected] “‌”) by June 19, 2023.

Just this morning, Guyana Standard reported that CRI’s parent company, CGX Energy Inc. announced that it successfully reached 71 feet of net pay oil at the Wei-1 well.

CGX said the results from the well are encouraging since data acquisition is ongoing via wireline logging and side wall core sampling. CGX also said an update on well results will be provided when the acquisition and evaluation has been finalized.

As operations continue, CGX and its partner, Frontera Energy Corporation have revised its total Wei-1BP1 cost estimates to approximately US$190-US$195 million to complete the logging runs, finish well operations, and release the rig. The additional costs are primarily due to the lost sampling tool and the drilling of the bypass well.

CGX holds a 32.00% participating interest with Frontera holding the remaining 68.00% participating interest in the Corentyne block, offshore Guyana.


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