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CGX Awards Drilling Contract for Offshore Eagle Well; Down Nearly 2%

CGX Energy Inc. (OYL.V) announced that it has awarded a drilling contract to a subsidiary of Diamond Offshore Drilling Inc. ( DO ) for the Ocean Saratoga semi-submersible drilling rig to drill the Eagle-1 well on the company's 100% owned and operated Corentyne Petroleum Prospecting License, offshore Guyana. The Ocean Saratoga is currently performing a work-over in the Gulf of Mexico and will soon be available to drill the company's Eagle-1 well. CGX is in discussions with Government of Guyana officials regarding timing for drilling. An announcement on mobilization and drill timing will be announced in a separate press release.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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