CGX’s Wei-1 exploration drilling “going extremely well” – Dr. Narine    

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Executive Co-Chair of CGX Energy’s Board of Directors, Professor Suresh Narine said the exploration drilling of the Wei-1 well is “going extremely well”.

He said the team, being led by Director of Drilling Kevin Lacey, is currently focused on the third planned casing point in the Oligocene Miocene section of the well.

The official noted that an important aspect of Wei is that it launches the CGX-Frontera joint venture’s appraisal programme for the northern section of the Corentyne Block.

“You’d appreciate that you don’t start appraising until you are convinced that you’ve got a good discovery,” Dr. Narine said, referring to the Kawa-1 discovery.

The Wei well is being targeted, he said, to grow the potential recoverable resources in the northern section of the block. He said that additionally, that the well has its own exploration objectives in the Maastrichtian, Campanian and Santonian intervals.

The appraisal programme that Wei commences, the Professor noted, was recently approved by the Guyana government.

The total cost of the Wei-1 well (including 2022 pre-drill costs and costs related to drilling delays) are forecast to be approximately US$160-170 million, by Frontera Energy.

Drilling commenced at Wei-1 late January with the Noble Discoverer.


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