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CGX is a Canadian oil and gas exploration company that holds three licenses in the Guyana-Suriname Basin, a frontier Basin in South America with a proven hydrocarbon system and highly prospective deep water plays that can be drilled in shallow water. In 2000, the United States Geological Survey (USGS) identified the Guyana-Suriname Basin as having the second highest resource potential among unexplored oil basins in the world and currently estimates mean recoverable oil reserves of over 13.6 billion bbls and gas reserves of 32 trillion cubic ft. The Company is pursuing the Equatorial Atlantic Margin Play, analogous to West Africa and Brazil. CGX is surrounded by major oil companies including Anadarko, Apache, Exxon, Inpex, Kosmos, Murphy, Repsol, Shell, Statoil, Total, and Tullow. With numerous prospects and leads and an independent P50 resource estimate of 2.9 billion boe of potential resources, CGX is positioned for success in this frontier Basin.
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