Cheap China Jerseys offshore Guyana.CGX Resources Inc.

micevan1l6

Efforts to have oil exploration accelerated have been undertaken, President Bharrat Jagdeo said on Thursday.Addressing the media at State House, the Head of State said that he has been in discussions with the potential drilling companies and has been privy to their schedules. According to the Head of State,Wholesale NFL Jerseys, he is trying to accelerate the process.On Tuesday, CGX Energy Inc. announced that YPF Guyana Ltd., a subsidiary of RepsolYPF acting as operator of the venture, has awarded a 1,650 square-kilometre 3D marine-seismic contract to Fugro-GeoTeam on the Georgetown Petroleum Prospecting Licence (PPL) offshore Guyana.CGX Resources Inc., a wholly owned subsidiary of CGX holds a 25% interest in the Georgetown PPL.Fugro’s seismic vessel ‘RN Geo Pacific’ will begin activities later in the month.President and CEO of CGX,Cheap Jerseys From China, Kerry Sully, said that the seismic activity will be jointly conducted with CGX’s previously announced 536 square kilometre 3D program on the adjoining Corentyne PPL, in which CGX holds a 100 per cent interest.In a statement issued to the media, Sully said,Cheap MLB Jerseys China, ‘the combined program will result in a 33 per cent saving per square kilometre to CGX through economies of shared mobilization and longer sailing lines on the previously announced Corentyne program.’CGX’s share of the combined program is estimated to be $15.8 million which will be funded by CGX from existing working capital.CGX also confirmed that the farm-out process that has been led by CGX’s agent Jeffries, Randall and Dewey of Houston, Texas has been put on hold during the 3D seismic period.Commenting on this Sully said,Cheap NFL Jerseys China, the company is pleased that significant interest was generated in the joint venture process on CGX’s Corentyne PPL.However, given that the 3D seismic acquisition is about to proceed on the Corentyne and Georgetown PPLs,Cheap Authentic NFL Jersey, he said,NFL Jerseys Authentic, CGX has put the farm-out process on hold until the 3D seismic data has been received and preliminary interpretation completed.