From the May 7th, year end information release, now posted to the CGX web site ... I guess there is no JV partner at this point:
Plans for 2010:
JRD will solicit proposals during the second quarter from companies that have reviewed the material in CGX’s virtual and physical dataroom in preparation to potentially become a joint venture partner with CGX Resources on its Corentyne PPL.
Depending on the outcome of the joint venture process, an equity issue may be required to supplement the cost of the planned two well drilling program.
CGX Resources has issued a tender request for a jack-up rig along with other participants in the Guyana / Suriname Basin who have committed to their own drilling programs in the near term.
Preliminary cost estimates to drill the Eagle well to 6,500 metres on the 100% Corentyne PPL are approximately US$70 million and approximately US$80 million for the well on the 25% working interest Georgetown PPL, of which the CGX Resources share would be US$20 million.
Black Gold Services have been retained to design and manage the drilling of the Eagle well on the Corentyne PPL, subject to a severance arrangement if a joint venture partner becomes the operator of the Eagle well.
CGX Resources has applied for and received permission to construct a port facility in the mouth of the Berbice River as a staging and storage facility to support offshore exploration.
