Frontera, CGX discover oil at Wei-1 well in Guyana (updated)

Frontera Energy

28/06/2023 12:26

(Adds details from the release, background in paragraphs 2-4)
       June 28 (Reuters) - Oil and gas firms CGX Energy  OYL.V 
and Frontera Energy  FEC.TO  said on Wednesday their joint
venture has discovered oil at the Wei-1 well offshore Guyana.
    Wei-1 is one of two wells on Guyana's Corentyne block that
the companies had committed to drill. The other well, Kawa-1,
struck light oil and gas condensate in May, last year.
    The South American nation has become one of the most desired
oil exploration hot spots due to the presence of a largely
unexplored oil reserve. 
        The companies said that the samples from the well would
be verified by an independent third-party laboratory over the
next two to three months.

 (Reporting by Sourasis Bose in Bengaluru; Editing by Shailesh
Kuber)
 ((Sourasis.Bose@thomsonreuters.com;))