Aiming To Build On Light Oil And Condensate Discovery At Kawa-1
The Joint Venture also announces that the Government of
The Wei-1 well is located approximately 14 kilometres northwest of the Joint Venture's previous Kawa-1 light oil and condensate discovery and will be drilled in water depth of approximately 1,912 feet (583 metres) to an anticipated total depth of 20,500 feet (6,248 metres). The Wei-1 well will target Maastrichtian, Campanian and Santonian aged stacked sands within channel and fan complexes in the northern section of the Corentyne block. The well is expected to take approximately 4-5 months to reach total depth.
Professor
"The Joint Venture is pleased to announce that it has spud the Wei-1 well offshore
"We are very excited about the potentially transformational opportunity that is now before us on the Corentyne block in one of the most exciting exploration areas in the world and we look forward to safely and successfully drilling the Wei-1 well and potentially extending the Joint Venture's recent light oil and condensate discovery at the Kawa-1 well."
CGX is a Canadian-based oil and gas exploration company focused on the exploration of oil in the
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Cautionary Note Concerning Forward-Looking Statements:
This press 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 press release includes, without limitation, statements relating to the parties' expectations as to exploration and development plans and objectives with regards to the Wei-1 well, including drilling plans and time to complete the Wei-1 well, the Joint Venture's consideration of future wells per its appraisal program following completion of the Wei-1 well and dependent upon detailed analysis of the results, and other exploration opportunities. 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 form of Frontera for the year ended
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