CGX rig en route to Guyana for drilling

January 5, 2012 TIMES INT'L

Canadian oil exploration firm CGX has announced that the Ocean Saratoga semi-sub mersible drilling rig departed the Gulf of Mexico on January 1, and is under tow to the Guyana-Suriname Basin to drill the Company’s Eagle-1 well.

The Eagle-1 well will be drilled on the Company’s 100 per cent owned and operated Corentyne Petroleum Prospecting Licence, offshore Guyana. It is anticipated that the Ocean Saratoga will arrive on location near the end of January.

CGX President and CEO Stephen Hermeston stated, “We are pleased that the rig is now under tow and looking forward to the commencement of drilling.”

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