Project Profile
Location: Guianas region, north coast of South America, offshore Guyana
Area: 3,975 square kilometres
Drilling Depth: 6,000 metres
The Demerara License (formerly the Annex License) comprises approximately 1.0 million acres (3,975 square kilometres) offshore Guyana and applies to the former offshore portion of the Annex PPL. CGX Energy Inc. has 3,400 sq km of vintage seismic data on the Demerara which was acquired prior to 1998. After processing about 250 km, CGX has identified two leads—a toe thrust on line 31 and an amplitude lead on the intersection of line 4 and line 25 at depth up to 6,000 metres. New 3D seismic will be required to advance these targets to drillable stage. The Demerara License was issued effective February 12, 2013 and is renewable after four years for up to ten years. During the initial period of four years, CGX has an obligation to conduct a 3D seismic survey comprising a minimum of 1,000 square kilometres and to drill one exploration well.
Operators:
CGX Energy Inc.: Operator with 100% interest
Contractors:
Prospector PTE. Ltd. (Prospector): Contract to conduct a 3,116.74 km2 3D seismic survey on the Demerara Block