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CGX Energy Inc. and Frontera Energy Corporation: Joint Venture to Focus on Corentyne in 2022
CGX Energy Inc. and Frontera Energy Corporation: Joint Venture to Focus on Corentyne in 2022
Toronto, Ontario--(Newsfile Corp. - February 14, 2022) - CGX Energy Inc. (TSXV: OYL) ("CGX") and Frontera Energy Corporation (TSX: FEC) ("Frontera"), the majority shareholder of CGX and joint venture (the "Joint Venture") partner of CGX, today announced that, as a result of the initial positive results at the Kawa-1 exploration well, the Joint Venture will focus on the significant exploration opportunities in the Corentyne block and will not engage in drilling activities on the Demerara block in 2022, as previously outlined by press release on February 16, 2021. The Joint Venture is currently engaged in discussions with the Government of Guyana regarding the Demerara block and will provide an update on such discussions as soon as a conclusion has been reached.
Kawa-1 early-stage Wireline Logging results confirm the Logging While Drilling (LWD) indications previously disclosed on January 31, 2022 with a total of 200 feet of net pay encountered at multiple depths. Further analyses of logs and samples are ongoing. The Joint Venture will provide an update when these activities are complete.
About CGX:
CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana.
About Frontera:
Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 33 exploration and production blocks in Colombia, Ecuador and Guyana, and pipeline and port facilities in Colombia. Frontera is committed to conducting business safely and in a socially, environmentally and ethically responsible manner.
If you would like to receive News Releases via email as soon as they are published, please subscribe here: .
Advisories
Cautionary Note Concerning Forward-Looking Information
This news release contains forward-looking information within the meaning of Canadian securities laws. Forward-looking information relates to activities, events or developments that CGX and Frontera believe, expect or anticipate will or may occur in the future. Forward-looking information in this news release includes, without limitation, statements regarding the Joint Venture's exploration and development plans and objectives and discussions with the Government of Guyana regarding the Demerara block. All information other than historical fact is forward-looking information. Forward-looking information reflects the current expectations, assumptions and beliefs of CGX and Frontera based on information currently available to them and considers the experience of CGX and Frontera and their perception of historical trends. Although CGX and Frontera believe that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on such information. Forward-looking information is subject to a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to CGX and Frontera. The actual results of CGX or Frontera may differ materially from those expressed or implied by the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, either of CGX or Frontera. The annual information forms of each of CGX and Frontera for the year ended December 31, 2020, and their annual management's discussion and analysis for the year ended December 31, 2020, and other documents each of CGX and Frontera files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge by referring to each company's profile on SEDAR at . All forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, each of CGX and Frontera disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
For further information, please contact:
Todd Durkee, Vice President, Development, CGX, 832 300 3200, or Brent Anderson, Director, Investor Relations, 1 403 705 8827, ir@fronteraenergy.ca,
To view the source version of this press release, please visit
Toronto, Ontario--(Newsfile Corp. - February 14, 2022) - CGX Energy Inc. (TSXV: OYL) ("CGX") and Frontera Energy Corporation (TSX: FEC) ("Frontera"), the majority shareholder of CGX and joint venture (the "Joint Venture") partner of CGX, today announced that, as a result of the initial positive results at the Kawa-1 exploration well, the Joint Venture will focus on the significant exploration opportunities in the Corentyne block and will not engage in drilling activities on the Demerara block in 2022, as previously outlined by press release on February 16, 2021. The Joint Venture is currently engaged in discussions with the Government of Guyana regarding the Demerara block and will provide an update on such discussions as soon as a conclusion has been reached.
安大略省多伦多-(Newsfile Corp.-2022年2月14日)-CGX Energy Inc.(多伦多证券交易所股票代码:OYL)(“CGX“)和Frontera Energy Corporation(多伦多证券交易所代码:FEC)(”Frontera),CGX和合资公司的大股东(合资企业“)CGX的合作伙伴今天宣布,由于Kawa-1探井的初步积极结果,合资公司将把重点放在Corentyne区块的重要勘探机会上,2022年不会从事Dmerara区块的钻探活动,正如之前在2021年2月16日的新闻稿中所概述的那样。合资公司目前正在与圭亚那政府就Dmerara区块进行谈判,一旦达成结论,合资企业将提供此类谈判的最新情况。
Kawa-1 early-stage Wireline Logging results confirm the Logging While Drilling (LWD) indications previously disclosed on January 31, 2022 with a total of 200 feet of net pay encountered at multiple depths. Further analyses of logs and samples are ongoing. The Joint Venture will provide an update when these activities are complete.
Kawa-1早期有线测井结果证实了之前在2022年1月31日披露的随钻测井(LWD)指示,在多个深度总共遇到了200英尺的净工资。对原木和样本的进一步分析正在进行中。合资企业将在这些活动完成后提供最新情况。
About CGX:
关于CGX:
CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin and the development of a deep-water port in Berbice, Guyana.
CGX是一家总部位于加拿大的石油和天然气勘探公司,专注于圭亚那-苏里南盆地的石油勘探和圭亚那伯比斯深水港的开发。
About Frontera:
关于Frontera:
Frontera Energy Corporation is a Canadian public company involved in the exploration, development, production, transportation, storage and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 33 exploration and production blocks in Colombia, Ecuador and Guyana, and pipeline and port facilities in Colombia. Frontera is committed to conducting business safely and in a socially, environmentally and ethically responsible manner.
Frontera Energy Corporation是一家加拿大上市公司,在南美从事石油和天然气的勘探、开发、生产、运输、储存和销售,包括对上游和中游设施的相关投资。该公司拥有多元化的资产组合,在哥伦比亚、厄瓜多尔和圭亚那的33个勘探和生产区块以及哥伦比亚的管道和港口设施拥有权益。Frontera致力于以对社会、环境和道德负责任的方式安全开展业务。
If you would like to receive News Releases via email as soon as they are published, please subscribe here: .
如果您希望在新闻稿发布后立即通过电子邮件收到新闻稿,请在此处订阅:
Advisories
咨询
Cautionary Note Concerning Forward-Looking Information
关于前瞻性信息的注意事项
This news release contains forward-looking information within the meaning of Canadian securities laws. Forward-looking information relates to activities, events or developments that CGX and Frontera believe, expect or anticipate will or may occur in the future. Forward-looking information in this news release includes, without limitation, statements regarding the Joint Venture's exploration and development plans and objectives and discussions with the Government of Guyana regarding the Demerara block. All information other than historical fact is forward-looking information. Forward-looking information reflects the current expectations, assumptions and beliefs of CGX and Frontera based on information currently available to them and considers the experience of CGX and Frontera and their perception of historical trends. Although CGX and Frontera believe that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be placed on such information. Forward-looking information is subject to a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to CGX and Frontera. The actual results of CGX or Frontera may differ materially from those expressed or implied by the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, either of CGX or Frontera. The annual information forms of each of CGX and Frontera for the year ended December 31, 2020, and their annual management's discussion and analysis for the year ended December 31, 2020, and other documents each of CGX and Frontera files from time to time with securities regulatory authorities describe the risks, uncertainties, material assumptions and other factors that could influence actual results and such factors are incorporated herein by reference. Copies of these documents are available without charge by referring to each company's profile on SEDAR at . All forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, each of CGX and Frontera disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
本新闻稿包含符合加拿大证券法的前瞻性信息。前瞻性信息涉及CGX和Frontera相信、预期或预期未来将会或可能发生的活动、事件或发展。本新闻稿中的前瞻性信息包括但不限于有关合资企业的勘探和开发计划和目标的陈述,以及与圭亚那政府就德梅拉拉区块进行的讨论。除历史事实以外的所有信息均为前瞻性信息。前瞻性信息根据CGX和Frontera目前掌握的信息反映了他们目前的预期、假设和信念,并考虑了CGX和Frontera的经验和他们对历史趋势的看法。尽管CGX和Frontera认为前瞻性信息中固有的假设是合理的,但前瞻性信息不是未来业绩的保证,因此不应过度依赖这些信息。前瞻性信息受到许多风险和不确定性的影响,有些风险和不确定性与其他石油和天然气公司相似,有些是CGX和Frontera独有的。CGX或Frontera的实际结果可能与前瞻性信息中明示或暗示的结果大不相同,即使这些实际结果已实现或实质上实现,也不能保证它们会对CGX或Frontera产生预期的后果或影响。CGX和Frontera各自截至2020年12月31日的年度信息表格,以及其年度管理层对截至2020年12月31日的年度的讨论和分析,以及CGX和Frontera各自不定期提交给证券监管机构的其他文件,描述了风险、不确定性, 可能影响实际结果的实质性假设和其他因素以及这些因素在此引用作为参考。这些文件的副本可免费查阅SEDAR上的每家公司简介,网址为:。所有前瞻性信息仅在发布之日发表,除非适用的证券法另有要求,否则CGX和Frontera均不表示有任何意图或义务因新信息、未来事件或结果或其他原因而更新任何前瞻性信息。
For further information, please contact:
Todd Durkee, Vice President, Development, CGX, 832 300 3200, or Brent Anderson, Director, Investor Relations, 1 403 705 8827, ir@fronteraenergy.ca,
如需更多信息,请联系:
开发副总裁托德·德基(Todd Durkee)电话:832 300 3200,董事(Standard Chartered Bank)投资者关系部布伦特·安德森(Brent Anderson)电话:1 403 705 8827,电子邮件:ir@front teraenergy.ca,
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问
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