To: brian krause who wrote (4508 ) 11/2/2001 11:07:20 AM From: Al Collard Read Replies (2) | Respond to of 11802 Brian, news out on OYL:CGX acquires 3,300 line kilometres of seismic data CGX Energy Inc OYL Fri 2 Nov 2001 News Release Mr. Kerry Sully reports CGX Energy has acquired 3,300 line kilometres of seismic data shot by Deminex in 1973 and 1976, covering the new northwest block (the Annex) on its offshore Guyana exploration concession and adjacent areas. These data will be integrated with CGX's existing database of 6,100 line kilometres of 2-D seismic. The majority of the existing database was acquired in 1999 by CGX and neighbouring licenceholders (a joint venture between Repsol (Maxus) of Spain and ENI of Italy) on a shared seismic program. The program used modern, solid-state technology provided by seismic contractor Western Geophysics. Warren Workman, vice-president of exploration of CGX, stated: "The newly acquired data is a significant piece in the puzzle to advance the regional geological interpretation of the Guyana/Suriname basin. We are currently reprocessing the data using modern techniques in order to identify evidence supporting the extension of the Wishbone/Eagle turbidite trend onto the northwestern Annex portion of our concession." Vintage seismic data from Guyana have been scattered all over the world and have been a challenge to gather. However, CGX now has a comprehensive collection of vintage and new data for regional assessment. As part of CGX's technical assistance to the government of Guyana, CGX has provided the Guyana Geology & Mines Commission, in Georgetown, with electronic copies of the data for processing by its professionals and to complete its archives. In further developments in the Guyana Suriname region, Guyana's foreign minister Rudy Insanally announced on Oct. 31, 2001, that the joint national border commissions of Guyana and Suriname are expected to meet in mid-November. To be reviewed is the proposal by Guyana for the joint management and exploitation of the disputed maritime area between the two countries, pending a resolution regarding the maritime borders. CGX Energy's Eagle and Wishbone targets are located in this area. In a statement to the Guyanese newspaper Stabroek News (see general news in following link: stabroeknews.com Mr. Insanally also said that both governments are working toward an official visit to Suriname by Bharrat Jagdeo, president of Guyana, before the end of the year, a visit which "may help settle a simmering oil exploration controversy between the two countries."