Drilling complete on successful find in Guyana

GEORGETOWN, June 29, 2023 – CGX Energy and partner Frontera Energy have completed drilling the Wei-1 exploration well in the Corentyne block offshore Guyana, the Canadian E&P partners announced on Wednesday.

The partners have confirmed 64 metres of hydrocarbons bearing sandstone at the well located around 200 kilometres from Georgetown.

Drilling was performed by Noble Corporation’s semi-submersible rig Noble Discoverer.

The joint venture acquired wireline logs and extensive core samples from the Santonian horizon.

Oil samples were not obtained due to a tool failure downhole.

Samples will be analysed by an undisclosed independent third-party laboratory in the next two to three months.

The play is located 14 kilometres from the Kawa-1 discovery announced in May 2022, making it the second successful discovery on the concession.

CGX Energy holds a 32% operating stake in the block, with fellow Canadian energy independent Frontera Energy Corporation holding the remaining 68% shares.

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