CGX’s Senior Technical Advisor, Dr. Mark Zoback, was asked whether the company regards the Kawa well in the Guyana Corentyne block as commercial, and he said, during a Monday virtual presentation, that it is too soon to say.
“It’s going to take not only the exploration wells but appraisal, complete mapping of the potential of this essential channel complex to really know where we are. We’re very optimistic at this point,” Dr. Zorback said.
CGX and its joint venture partner, Frontera Energy, could not have hoped for better results than they got with Kawa-1, Dr. Zorback said, but they need more information to pronounce further.
CGX prepping for next target on Corentyne Block with initial cost pegged at US$93M
Just prior to the virtual presentation, CGX announced in a release that it discovered light oil and gas condensate at Kawa-1 in updated results ahead of its planned drilling of the Wei-1 well, which is 14 kilometres away from Kawa-1 in the northern part of the Corentyne Block. CGX had said in a previous report that it never intended to keep Kawa, which it dubbed a “finder’s well”, active following completion of its drilling campaign. Yet, it announced a discovery at the well twice; first in January, then on Monday.
Answering a question about why it took so long to get these new results on Kawa-1, since the discovery was announced in January, Frontera’s Head of Exploration, Regan Palsgrove, said it was a long, deep well and so, it took a lot of time. She explained that the joint venture did not get modular formation dynamics (MDT) samples, and that that required them, with the help of third parties, to take the time to integrate all the other data they have.
“We had many pay zones, some of which weren’t targeted, and we needed the time to analyse all of that data,” Palsgrove said. But as a result of the time taken to do that, she said the partners now have the confidence in the hydrocarbon case in each zone.
